President of Cyprus, Nicos Anastasiades
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Cyprus president: 'We leave behind uncertainty'

The president of Cyprus has defended a deal agreed with international lenders to save the country's banking system from bankruptcy.

Nicos Anastasiades said the agreement was hard, but that it was the best one possible under the circumstances.

The agreement protects small savers but depositors with more than 100,000 euros ($130,000; £85,000), many of whom are Russian, face big losses.

  • 25 Mar 2013
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