Bailout deal saves Cyprus, but euro doubts are raised

A last-minute bailout deal for Cyprus appears likely to end the island nation's status as a tax haven and may entail needed restrictions on capital flows that effectively wall off the country from the eurozone's financial system. The deal also shutters Cyprus' second-largest bank. More broadly, the haltingly reached accord raises questions among senior bank bondholders in the region and, though it preserves the eurozone, adds to doubts about the survival of the currency itself.

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