German chancellor says deal puts nation on ‘new path’
By DEMOCRAT-GAZETTE STAFF FROM WIRE REPORTS
Posted: March 26, 2013 at 3:37 a.m.
Credit: Bloomberg News
A man catches up on the news at a cafe in Nicosia, Cyprus, on Monday. Cypriot President Nicos Anastasiades agreed early Monday morning to shut Cyprus Popular Bank and tax deposits of more than $130,000 in Cypriot banks in a plan to secure emergency funds from the European Central Bank and the International Monetary Fund.
German Chancellor Angela Merkel on Monday lauded the bailout agreement for Cyprus as lawmakers in her coalition embraced the package.