A last-minute multi billion euro bailout deal for Cyprus has been reached with the EU and the IMF.
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The country’s President has agreed terms at emergency talks in Brussels.
But to help Cyprus out of its mess he had to agree that anyone with over 100-thousand Euro in either of the island’s 2 biggest banks will lose out.
A percentage of their money will be taken.
The EU’s Economic Affairs Commissioner Olli Rehn says it’s an important deal:
