Cyprus Postpones EU Bailout Debate

World | March 17, 2013, Sunday // 13:23|  views

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The Cypriot Parliament has postponed the debate and vote on the levy on all bank deposits imposed to partially fund an international bailout needed to stave off bankruptcy.

State television said that Sunday's parliamentary debate was postponed to "ensure MPs were fully aware of the situation and were better informed."

All meetings were postponed until Monday, the Cyprus News Agency reported.

The decision to impose the one-time levy of 6.75 percent on all deposits under EUR 100,000 and 9.9 percent over that amount, has triggered scorn from Cypriot politicians who condemned it as unfair, bringing in doubt its approval in parliament.

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Tags: bank deposits, levy, bailout, Cyprus, bankruptcy


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