NICOSIA, March 22 (Xinhua) -- Cyprus and Greece have agreed to spin off the Greek branches in Cypriot banks, the Cypriot presidency said on Friday.
The agreement was reached "after talks between Cyprus President Nicos Anastasiades and Greek Prime Minister Antonis Samaras," the Cypriot presidency said in a statement.
The spinoff issue "has been settled with the most favorable terms under the present circumstances, with a significant benefit for the Cypriot side," local media reported, citing the statement.
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