VIENNA, March 18 Cyprus is a special case and
other countries should not fear contagion from the terms of its
bailout that include levying a one-off tax on bank deposits,
European Central Bank Governing Council member Ewald Nowotny
told Austria's ORF radio on Monday.
"For other countries, there is absolutely no reason to fear
contagion," said Nowotny, noting that Cyprus's banking system
accounted for an above-average proportion of national output,
and that the island nation had a particularly high share of
"In this sense, there is nothing to fear," he said, adding
alternatives to Cyprus's bailout package would have been worse.