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THE COUNCIL of Ministers will appoint criminal investigators in the coming days with a “clear and wide-ranging mandate” to find those responsible for bringing Cyprus to the brink, President Nicos Anastasiades said last night. In a televised address to the nation on his return from Brussels where he reached political agreement with the Eurogroup on a Cyprus bailout, the president said he understood the “justifiable sense of anger” felt by people regarding the responsibilities of those who led Cyprus to its current predicament.Anastasiades confirmed that Cyprus will introduce “very temporary” restrictions on capital flows when banks reopen this week... 51 comments
UPDATED 2.58am Cyprus and international lenders reached a draft deal in the early hours of this morning, which had to be approved by the Eurogroup.Details of the deal were sketchy but involved heavy levies on both of Cyprus’ biggest banks. Other banks appeared to have been spared. And no charges will be incurred against any Cypriot bank account with less than 100,000 euros in them, the officials said... 70 comments