NICOSIA, March 22 Cyprus's biggest lender Bank
of Cyprus on Friday urged the government to immediately
adopt the euro zone's proposal to tax deposits over 100,000
euros, saying the alternative was a collapse of the country's
"Since it was evident that there were no alternative
solutions there must be no further delay in adopting the
Eurogroup's proposal," the bank said in a statement, warning
that all deposits would be lost if the system collapsed.
"And finally, we want to highlight that any return to the
Cypriot pound means significant loss of asset value and lead to
a vicious circle of devaluation and hyperinflation."