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Dimitriadis presents a resolution process to the Cypriot Parliament

FXstreet.com (San Francisco) - The Cypriot Central Bank governor Cyprus Panicós Dimitriadis has announced a bank restructuring plan that will allow banks to reopen on Tuesday. Dimitriadis said on Thursday that the bill would protect bank deposits up to €100K according to sources.

Earlier, the Popular bank allowed costumers to withdrawal cash but limited by individual to 260 euros a day.

Bloomberg has published that the bill has the approval of the Troika, however, the Eurogroup is weighing the close of the Cyprus Popular bank and the bank of Cyprus.

US markets in red on Europe woes

Shares in the US markets are trading on the back foot on Thursday as fears on Europe are building up and weighting on sentiment. Developments in Cyprus continue to be on the centre of attention...
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Forex: NZD/USD upside trend intact at 0.8326/29

A brief kiwi crawl that led to the NZD/USD waning towards the 0.8317 level was fortified and reversed in recent moments, resulting in a turn back to the upside. At the time of writing the pair is trading at 0.8326/29 during American trading Thursday, securing a steadfast advance of +0.73%.
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