BRUSSELS (Reuters) - Cyprus reached an outline deal with international lenders for a 10 billion euro (8.5 billion pounds) bailout that would shut down its second largest bank and inflict heavy losses on uninsured depositors, an EU spokesman said early on Monday.
The tentative deal emerged after fraught negotiations between President Nicos Anastasiades and heads of the European Union, the European Central Bank and the International Monetary Fund - hours before a deadline to avert a collapse of the banking system.
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