President: Cyprus has 'no intention' of leaving the euro

Cyprus has no intention of leaving the European single currency, the island's president said today, assuring Cypriots that the situation was "contained" in the wake of a tough bailout deal with the European Union. He told a conference in Nicosia:

We have no intention of leaving the euro. In no way will we experiment with the future of our country.

– President Nicos Anastasiades

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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.