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Cyprus bailout deal: Russia riled but Germany relieved

Eurozone finance ministers have agreed a deal on a 10bn-euro bailout for Cyprus to prevent its banking system collapsing and keep the country in the eurozone.

Laiki (Popular) Bank - the country's second-biggest - will be wound down and holders of deposits of more than 100,000 euros will face big losses.

The deal has sparked "stinging criticism" in Russia as many of the country's nationals will be hit hard under the plans, the BBC's Steve Rosenberg in Moscow said.

But it is a different story in Germany, where Chancellor Angela Merkel will be "satisfied she has driven through a tough deal", according to Stephen Evans in Berlin.

  • 25 Mar 2013
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