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World Business Report: Cyprus bailout triggers uncertainty

Savers getting money out of cash machines in Cyprus

18/03/2013

Cyprus bailout triggers uncertainty

BBC World Service - World Business Report, Cyprus bailout triggers uncertainty

Banks in Cyprus stay shut after savers are told they will lose some of their cash.

Banks in Cyprus stay shut after savers are told they will lose some of their wealth.

Banks in Cyprus are to stay shut until at least Thursday as the island state's leaders and European officials deal with the fallout from an announcement that savers will lose some of their deposits in Cypriot banks. A financial adviser there tells us of shock and disbelief at the terms of the bailout. And we ask what role Russian money has played in the Cypriot banking sector over several decades. Also we hear about proposed reforms to how the press works in Britain and Amazon steps into the world of television.

(Image: Cypriots withdrawing cash, Getty)

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