BRUSSELS, March 18 Euro zone finance ministers
are in favour of imposing a 15.6 percent levy on deposits of
above 100,000 euros ($129,600) in Cyprus's banks to help
recapitalise its financial sector while sparing depositors up to
that level, euro zone officials said.
Euro zone finance ministers held a conference call on Monday
to again discuss the terms of a 10-billion-euro bailout for the
Mediterranean island that they had agreed early on Saturday.
"All Eurogroup ministers wanted the 100,000 euros to be
untaxed," one Greek finance ministry official said. "Cyprus
doesn't want to impose a large tax above 100,000 because the
money will flow out. Two thirds of deposits are from abroad."