CLEAN : Cyprus sacrifices top banks to resurrect

The transcript discusses the financial crisis in Cyprus, highlighting the challenges faced by the country and the euro area. It outlines the financial assistance plan, including a €10 billion aid package and potential IMF contributions. The focus is on resolving issues in two major banks, Laiki Bank and Bank of Cyprus, while ensuring deposits under €100,000 are protected. The European Union's commitment to supporting Cyprus and mitigating social consequences is emphasized.

What is the proposed financial assistance amount for Cyprus?

What challenges are anticipated for Cyprus in the near future according to the speaker?