Cyprus to get 10 billion euro bailout.

Finally, the Euro zone ministers reached an 11th hour deal with Cyprus on a 10 billion euro bailout plan to spare the country from financial meltdown.
Those ambitions measures include the closure of the Popular Bank of Cyprus, also known as Laiki, and the transfer of deposits below 100,000 euros to the Bank of Cyprus.
Deposits above 100,000 euros will be frozen and used to resolve debts. Cyprus will, of course, remain a part of the European Union.
The news played well in Asia markets. The Nikkei rebounded after a sharp fall last week... And in China, the yuan traded at 6.2 per dollar, its highest level ever since the crisis had been averted.