What happened to the Cypriot banking sector in March 2013?
Answer and explanation
Correct answer: B. Cyprus agreed an assistance programme with the EU and IMF that restructured two large banks
- Step 1: A banking crisis threatened the country's finances in 2013. Step 2. The government agreed a programme with the EU and the IMF, and two big banks were restructured. Answer: Cyprus agreed an assistance programme with the EU and IMF that restructured two large banks. Why not the others: Cyprus stayed in the euro area, its debt was not cancelled and the banks were not all nationalised.
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