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Location: Mercato San Severino Campania Italy

The European Union agrees to a €10 …

Years: 2013 - 2013
March
The European Union agrees to a €10 billion economic bailout for Cyprus on March 25, 2013.

The bailout loan will be equally split between the European Financial Stabilisation Mechanism, the European Financial Stability Facility, and the International Monetary Fund.

The deal precipitates a banking crisis in the island nation.