The head of the eurozone group of finance ministers, Jeroen Dijsselbloem, said there were no apparent signs of increased withdrawals of savings from peripheral to core countries in the region as a result of the Cyprus crisis.

BBC: Business

However, Credit Suisse does see the risk of deflation in the peripheral countries of Europe because of loss of competitiveness in the region and the degree of fiscal tightening that will be needed to stabilize government debt to gross domestic product.

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