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10 Billion-Euro Bailout Agreed For Cyprus

International lenders have reached a deal to give Cyprus a financial bailout of up to 10 billion euros ($13 billion).

The deal was announced early on March 16 after hours of talks in Brussels between eurozone finance ministers and the International Monetary Fund (IMF).

Cyprus is the fifth country -- after Greece, Ireland, Portugal, and Spain -- to seek international financial assistance to survive the debt crisis that has been buffeting the eurozone.

The amount is less than expected, as Cyprus had initially asked for 17 billion euros.

Russia appears likely to play a role in the Cyprus rescue, with reports suggesting Moscow could extend repayment of a 2.5 billion-euro loan to the eastern Mediterranean country.

Cypriot Finance Minister Michalis Sarris is expected to hold talks next week in Russia.

Based on reporting by AFP, Reuters, and AP