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Cypriot Finance Minister Resigns

Michalis Sarris resigned after announcing the final terms of a bailout for the nation’s banking system that imposed heavy losses on bank depositors in return for aid.

 

Head of Cyprus's Biggest Bank Resigns

Antreas Artemis, the chairman of Bank of Cyprus, contended that he and the bank's board were not consulted in bailout negotiations that would impose large losses on depositors.

 

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