ECB threatens to cut off liquidity support to Cyprus
The European Central Bank (ECB) will cut liquidity support to Cyprus's beleaguered banking sector if authorities fail to strike a deal by March 25 at the latest, the central bank's governing council said in a statement today.
"The governing council of the ECB decided to maintain the current level of emergency liquidity assistance until Monday, March 25, 2013," the ECB said. "Thereafter, emergency liquidity assistance could only be considered if an EU/IMF programme is in place that would ensure
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