BBC News – Cyprus bailout: Deal may have been reached in Eurogroup talks

Bank of Cyprus - BBC - Getty ImageMakes one wonder if countries joining the European Union was a good idea in the first place.  I believe it’s just a part of the new world order that will come on the earth as the anti-christ takes over.  According to scripture things like this do not surprise me.  Yet we resist and pray against it.  What can be saved…let God save.  Who can be saved, be saved!  Run to Jesus is my recommendation!

Another update to the story below -Reuters

Cyprus bailout plan

“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.

Reports suggest the deal will include a levy on deposits of more than 100,000 euros in Cyprus’s two biggest banks.

The levy on deposits in Laiki (Popular) Bank – the country’s second-biggest – could be as high as 40%, reports say.

The European Central Bank had set a deadline of Monday for a deal.

Laiki is also likely to be split into “good” and “bad” banks.

The deal is good news for Cyprus’ small account holders, the BBC’s Christian Fraser reports from Paris.

All deposits under 100,000 euros will be secured. But for those with deposits of more than that amount in the country’s two biggest banks – Laiki and Bank of Cyprus – the deal will come as a bitter blow, our correspondent says.”