Tag: Euro-zone economies

• Monday, March 18th 2013 - 07:26 UTC

  Cyprus bailout conditions trigger fears of Euro debt crisis escalation and run on banks

  

  Asian markets have dipped after Cyprus bailout plans triggered fears of an escalation of the Euro zone debt crisis. The EU and IMF want all bank customers to pay a levy in return for a bailout worth 10bn Euros and although the plan is yet to be finalised, the news of the deal caused a rush to the cash machines in Cyprus as people tried to withdraw money.