Cyprus bailout agreed but tourists still advised to take euros
Holidaymakers are still being advised to carry cash to Cyprus despite the EU agreeing a £10 billion euro bailout to prevent the country’s banking system collapsing.
Banks are still closed, daily withdrawals at ATMs are being limited and many businesses are only accepting payment in cash.
The Foreign Office is advising tourists to take sufficient euros to cover the duration of their stay, "alongside appropriate security precautions against theft".
Eurozone finance ministers agreed the deal on a 10 billion-euro bailout for Cyprus to keep the country in the Eurozone just before today’s deadline set by European Central Bank.
The country’s second biggest bank, Laiki (Popular) Bank, will be wound down and holders of deposits of more than 100,000 euros will face losses, reports the BBC.
Laiki will be split into "good" and "bad" banks, with its good assets eventually merged into Bank of Cyprus but all deposits under 100,000 euros will be "fully guaranteed" under the deal.
Diane
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Qatar Airways offers flexible payment options for European travellers
Airlines suspend Madagascar services following unrest and army revolt
Digital Travel Reporter of the Mirror totally seduced by HotelPlanner AI Travel Agent
Strike action set to cause travel chaos at Brussels airports
All eyes on Qatar as Qatar Airways leads a season of global events