Hitting the Savers Euro Zone Reaches Deal on Cyprus Bailout

After fraught negotiations, euro-zone finance ministers reached a deal early Saturday to provide up to €10 billion in bailout funds to Cyprus, which faces bankruptcy in May. For the first time, deposits at banks in a country are being seized to assist in the rescue.
An automated teller machine in Nicosia, Cyprus: Under the terms of the bailout agreement, savers will be hit with a one-time levy.

An automated teller machine in Nicosia, Cyprus: Under the terms of the bailout agreement, savers will be hit with a one-time levy.

Katia Christodoulou/ dpa
dsl -- with wires
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