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Cyprus terms of EU bailout

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On the 20th of March, the grief-stricken Cyprus’ finance minister asked for help from Russia. This move, which is simply believed to be an act of despair, is aimed at averting a financial cataclysm in Cyprus after the parliament decided to reject the terms of EU aid. The rejection of the EU bailout nears a probable bankruptcy of the country. Therefore the government is eyeing Russia as it believes that aid from Vladimir Putin would help avoid the tragic precedence of the ongoing crisis, including a bank crash.

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