LIGNET: Why Europe Won't Let Russia Bail Out Cyprus

Thursday, 21 Mar 2013 03:00 PM

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As the government in Cyprus scrambles to find a solution to a banking crisis that has thousands of people lined up outside ATM machines waiting to withdraw their money, it appears increasingly likely that it will have to depend on loans from Russia to avoid a default. But the European Union and International Monetary Fund, fearing a larger Russian presence in the region, will likely step in at the last minute to prevent this.

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