Cyprus Finance Minister defends bailout as only option...

Cyprus had no choice but to accept the latest 10 billion euro bailout deal according to Foreign Minister Ioannis Kassoulides. <br /><br />Speaking at a ceremony commemorating Greece's Independence Day, he defended the decision to downsize the financial sector by closing the country's second largest bank, Laiki, whilst protecting those with savings under 100,000 euros. <br /><br />...<br />http://www.euronews.net/