The euro continues to weaken against the dollar after a brief moment of smooth sailing following the initial announcement that Cyprus and the eurozone had agreed on the terms of the rescue package. However, the joy was momentary and European markets keep producing poor figures.
The Dutch finance minister and the head of the Eurogroup, Jeroen Dijsselbloem said earlier that the Cyprus bailout deal will serve as a model for future bank restructurings among the single currency members and their economies…

Following the last-minute 10bn euro deal struck between Cyprus and eurozone finance ministers - guaranteeing the ailing island nation with a much needed rescue package - led to euro bouncing above $1.30. The monetary union averted yet another crisis, letting the struggling eurozone live another day.
The new bailout includes a complicated, yet massive, restructuring plan for Cyprus’s two largest banks…