European leaders grappling with political deadlock in Italy and spiralling unemployment in France will turn to a financial rescue for Cyprus in an effort to stave off a return of market turmoil over the debt crisis.European Union leaders will meet for a March 14-15 summit in Brussels to discuss terms for Cyprus, including the island nation's debt sustainability and possibly imposing losses on depositors. That comes as Italy struggles to form a government after an inconclusive February 24-25 election and as concern over the French economy mounts with unemployment at a 13-year high."We haven't turned the corner yet, but we're on a good path," German Finance Minister Wolfgang Schaeuble told Austria's Der Standard newspaper in a March 8 interview. "It would be wrong at this point to change course."

Source - http://www.business-standard.com