An administrator has told Reuters he has been appointed to take over the running of the Bank of Cyprus. Earlier today it was reported the Bank of Cyprus chairman Andreas Artemis had submitted his resignation,
Cyprus' rescue deal has sent shivers through southern Europe after a key eurozone figure said it would be a model for future bailouts.
The future is uncertain for the people who must live with the consequences of Cyprus' "painful" bailout deal.
The Dutch Finance Minister has said the bank levy 'bail-in' on large depositors "pushes back the risks" from the rest of the eurozone.