A man leaves a branch of Bank of Cyprus in central Nicosia, Cyprus, Tuesday, July 2, 2013. Moody's Investors Service said that it considers Cyprus to have defaulted after the debt-stric

 

              A man leaves a branch of Bank of Cyprus in central Nicosia, Cyprus, Tuesday, July 2, 2013. Moody
A man leaves a branch of Bank of Cyprus in central Nicosia, Cyprus, Tuesday, July 2, 2013. Moody's Investors Service said that it considers Cyprus to have defaulted after the debt-stricken island country swapped some local bonds for longer-term bonds. Cyprus negotiated a 23 billion euro ($30 billion) bailout with those entities in March. To get the money, Cyprus had to agree to cut spending and restructure its banking system. (AP Photo/Petros Karadjias)