And then there were five: Cyprus seeks EU aid
NICOSIA/ATHENS (Reuters) – A fifth euro-zone country turned to Brussels for emergency funding on Monday when Cyprus announced it was seeking a lifeline for its banks and its budget, hours after Spain submitted a formal request to bail out its banks. Global share prices and the euro slid as investors bet that European leaders – due to meet this week for the 20th time since the currency zone’s debt crisis hit Greece in 2010 – would fail to come up with radical measures to back up weak countries. . . .
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