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Cyprus passes bills for EU bailout; Greece to take over bank branches
Lawmakers in Cyprus approved three bills late Friday aimed at securing a bailout for its troubled banks from the European Union and averting a financial meltdown.The legislation includes one bill that allows the government to divide the wobbling lenders into excellent and terrible banks — a law that would likely to be applied first to Cyprus Well loved Bank.
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Cyprus passes bills for EU bailout; Greece to take over bank branches
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