EU Commission says has not proposed losses for Cypriot depositors

BRUSSELS Feb 11 (Reuters) - The European Commission has not proposed forcing losses on uninsured depositors of Cypriot banks, a spokesman for the EU's executive said on Monday.

The remarks were made following a report in the Financial Times that a proposal had been made to 'bail-in' investors and depositors of Cypriot banks, a move that would reduce the amount of financial assistance required by Cyprus.

"There are no proposals of the European Commission along the lines described in the article," said the spokesman for Olli Rehn, the European Commissioner in charge of economic and monetary affairs.

He added that the Commission intended to ensure fair burden sharing and restructuring Cypriot banks.

Euro zone finance ministers will discuss the question of financial assistance for Cyprus when they meet on Monday although no aid package will be finalised until elections have been held and a new Cypriot president is in place. (Reporting By John O'Donnell)