Cyprus president takes pay cut amid financial crisis

Cyprus president Nicos Anstasiades has taken a 25 percent pay cut as the country's financial woes continue. Restrictions on cash withdrawals are also expected to continue for some time.

Europe Correspondent Emma Murphy reports:

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'60% levy' possible in Cyprus

Savers with the Bank of Cyprus could be given shares in the bank, a source close to the negotiations has told the news agency Reuters as some initial details of the euro bail out are released.