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Sunday, March 17, 2013

Cyprus parliament postpones vote on savings levy to Monday

Cyprus President Nicos Anastasiades and European President Martin Schulz give statements to the media at the European Parliament in BrusselsBy Michele Kambas NICOSIA (Reuters) - Cyprus's parliament postponed an emergency session called to approve a levy on bank deposits on Sunday after signs lawmakers could block the surprise move agreed in Brussels to help fund a bailout and avert national bankruptcy. In a radical departure from previous aid packages, euro zone finance ministers want Cyprus savers to forfeit up to 9.9 percent of their deposits in return for a 10 billion euro bailout to the island, financially crippled by its exposure to neighboring Greece. ...



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