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URGENT ¥¥¥ Merkel says 'very pleased' Cyprus deal prevented bankruptcy

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(Globalpost/GlobalPost)

German Chancellor Angela Merkel said on Monday that she was "very pleased" that a bailout agreement had been reached for Cyprus which has averted a financial meltdown.

"I am very pleased that a solution for Cyprus was successfully reached last night which meant that the country's insolvency was averted," she said in a statement released by the chancellery.

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http://www.globalpost.com/dispatch/news/afp/130325/urgent-merkel-says-very-pleased-cyprus-deal-prevented-bankruptcy