U.S. Treasury backs Cyprus bailout deal

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U.S. Treasury backs Cyprus bailout deal
WASHINGTON (MarketWatch) -- The U.S. Treasury Department on Monday backed the last-minute deal that bailed out Cyprus. The agreement in Cyprus fully protects insured depositors, which is important, while resolving and recapitalizing troubled banks," the department said in a statement. Treasury said it would monitor developments closely as details are finalized.