Tuesday 26 March 2013

Towards revolution?

'Cyprus deal pushes EU closer to French, Bolshevik revolutions'

Depositors in the Bank of Cyprus, the biggest bank on the island, will reportedly lose from 30 to 40 per cent on their holdings above 100,000 euro as result of a bailout agreement which Cyprus and the troika of international backers signed on Monday.

John Laughland, the director of studies at the Institute of democracy and cooperation in Paris, believes that the developments in Cyprus share their roots with a number of historic revolutions.

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