Furious Cypriots are queueing up at bank teller machines after the euro zone this morning agreed on a bailout that includes taking up to 10% out of every bank account, in an attempt to prop up the banks without burdening the country with unsustainable debt. The deposit levy will raise nearly €6 billion, while the euro zone lends another €10 billion. Depositors will, however, get shares in the banks equivalent to their losses.
Cypriots are forced to bail out their own country
By Quartz Staff
CyprusPublished Last updated This article is more than 2 years old.
