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Cyprus eyes 25 pct levy on big savers at stricken Bank

'Troika' considering 25 percent bank deposits levy in Cyprus

Reuters, Saturday 23 Mar 2013

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.

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