S&P downgrades Cyprus on defa

S&P downgrades Cyprus on default fears
Associated Press

Pedestrians pass a branch of "Bank of Cyprus" at a main street in Nicosia, Friday Dec. 21, 2012. The Cyprus government vowed to do what is needed to finalize a bailout agreement with international lenders after ratings agency Standard & Poor's downgraded Cyprus further into junk status amid concerns that the country could default on its debts. (AP Photo/Petros Karadjias)

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