Cyprus talks go down to deadline

As a deadline loomed, Cypriot negotiators and international lenders struggled to come to terms on a bailout plan. One reported sticking point was International Monetary Fund insistence that the island nation's two largest banks be merged. Meanwhile, Moody's cut the deposit and senior unsecured debt ratings of three Cypriot banks and said more action may be in store.

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Bloomberg · (China) · Business Times (Singapore), The

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