Eurogroup to give Cyprus more flexibility on levy -source

ATHENS, March 18 Mon Mar 18, 2013 4:21pm EDT

ATHENS, March 18 (Reuters) - The Eurogroup has decided to give Cyprus more flexibility over a bank levy which is part of its bailout conditions, a Greek finance ministry source said on Monday after a teleconference of euro zone finance ministers.

The Eurogroup has agreed that depositors with less than 100,000 euros ($129,600) should be protected, the official said, on condition of anonymity.

He said Cyprus should still raise 5.8 billion euros from the levy as planned, and that the Cypriot parliament would vote on the rescue package on Tuesday.