Cyprus seeks Russian bailout aid, EU threatens cutoff

[dipsydoodle]

2. Euro Spikes On Report That A Cypriot Bank To Be Sold To Russian Investors

Via Bloomberg, there is a report in Kathimerini that Cypriot bank Cyprus Popular will be sold to Russian investors.

According to Kathimerini, the deal would reduce the country's financing needs by 4 billion euros.

The euro is rising on the news.

Read more: http://www.businessinsider.com/cyprus-will-sell-bank-to-russia-2013-3#ixzz2O5CpNNRx

Cyprus denies deal to sell Cyprus Popular Bank.

NICOSIA (Reuters) - The Cypriot government denied on Wednesday that it had struck a deal to sell Cyprus Popular Bank to Russian investors as it tries to shore up its crippled banking sector.

"The government denies reports that the Cyprus Popular Bank has been sold to foreign investors," government spokesman Christos Stylianides said in a statement, giving no further comment. The reports of the deal surfaced in Greek media.

http://www.chicagotribune.com/business/sns-rt-us-eurozone-cyprus-popularbankbre92j0jg-20130320,0,686315.story