The fate of the Eurozone, it appears, could hinge on tiny Cyprus. And at least one Am Law 100 firm is in the thick of it as the drama plays out.
Lawmakers in the divided island nation vetoed a European Unionbacked "bail-in" agreement earlier this week that would have pumped $13 billion into Cyprus while levying a tax of between 6 and 10 percent on accounts held in the Mediterranean island country. The controversial tax would have raised $7.5 billion, with the remaining $5.5 billion of the total to be supplied by the European Union and International Monetary Fund.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]