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Cyprus depositors hammered in radical EU-IMF bailout

(From L) Greece's Finance Minister Ioannis Stournaras, EU Commissioner for Economic and Monetary Affairs Olli Rehn and Cyprus' Finance Minister Michael Sarris talk on March 15, 2013 at a Eurozone meeting in Brussels. Eurozone finance ministers and the IntEurozone leaders and the IMF on Saturday announced an unprecedented levy on all deposits in Cypriot banks as the sting in the tail of a 10-billion-euro bailout for the near-bankrupt government in Nicosia.