Authorities work on ‘plan B’ as European Central Bank closes the net and citizens feel the squeeze

The prospect of a bank levy for bank depositors in Cyprus remains on the cards, after legislators have been desperately trying to  redraw the terms of the EU-imposed bailout.

Parliamentarians rejected the original deal agreed with Eurozone leaders in the early hours of 16 March, which would have seen international creditors lend Cyprus around €10 billion ...

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