Cyprus says tax on deposits was alternative to bankruptcy

NICOSIA – Cyprus's president said on Sunday he had to accept a painful compromise on accepting a tax on bank deposits in return for international aid, or else the island would have faced bankruptcy. Read more: http://www.foxbusiness.com/news/2013/03/17/cyprus-says-tax-on-deposits-was-alternative-to-bankruptcy/#ixzz2NrG1SFHO