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4 years ago
Cyprus eyes 25 percent levy on big savers at stricken Bank of Cyprus
March 23, 2013 / 11:47 AM / 4 years ago

Cyprus eyes 25 percent levy on big savers at stricken Bank of Cyprus

1 Min Read

Cyprus's Finance Minister Michael Sarris walks in a hotel lobby after arriving from the Russian Finance Ministry headquarters in Moscow March 21, 2013.Maxim Shemetov

NICOSIA (Reuters) - Cyprus is considering a levy of about 25 percent on bank deposits over 100,000 euros ($130,000) in the island's largest local lender, Bank of Cyprus, Finance Minister Michael Sarris said on Saturday.

Sarris told reporters that "significant progress" had been made in talks with officials from the European Union, European Central Bank and International Monetary Fund - the so-called 'troika' - and that the discussions may conclude on Saturday evening.

($1 = 0.7694 euros)

Reporting by Michele Kambas; Writing by Matt Robinson; Editing by Louise Ireland

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