March 19, 2013 / 8:21 AM / 5 years ago

Euro zone cannot lend more than agreed to Cyprus -French finmin

PARIS, March 19 (Reuters) - The euro zone cannot lend more to Cyprus than the 10 billion euro bailout it agreed at the weekend, French Finance Minister Pierre Moscovici said on Tuesday.

“Above 10 billion euros we are entering into a size of debt that is not sustainable,” Moscovici told reporters ahead of a vote by Cyprus’ parliament on a controversial bank deposit tax that is part of the aid package.

Moscovici said France was in favour of a proposal to only tax Cyprus bank deposits of over 100,000 euros, but that it was up to Cyprus to decide where to draw the line on such taxes.

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