Reuters: Business News: Cyprus closes in on EU bailout, U-turn on levy

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Cyprus closes in on EU bailout, U-turn on levy Mar 23rd 2013, 01:14 NICOSIA (Reuters) - Cyprus is expected to make a dramatic U-turn on Saturday to avert the imminent threat of financial meltdown, having signaled it is willing to tax big savers in its stricken banks to clinch a bailout from the European Union.

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