Article source
BBC News
Article date
Sun, Mar 24, 2013
Article link
Eurozone finance ministers have agreed a 10bn-euro bailout deal for Cyprus to prevent its banking system collapsing and keep the country in the eurozone.
Laiki (Popular) Bank - the country's second-biggest - will be wound down and deposit-holders with more than 100,000 euros ($130,000; £85,000) will face big losses.
However, all deposits under 100,000 euros will be "fully guaranteed".
Officials warn the island faces a deep recession with many businesses to shut.