Last-Minute Deal The End of the Cypriot Banking Sector

A Cypriot exit from the euro zone has been averted by a last-minute deal in which the government bowed to the demands of international lenders. Rich depositors, including wealthy Russians, will face heavy losses in return for a 10 billion euro bailout, and the island's banking sector will be radically downsized.
Depositors withdrawing money last week. The nation faces hard times following the bailout.

Depositors withdrawing money last week. The nation faces hard times following the bailout.

Katia Christodoulou/ dpa