Tag Archives: Michele Kambas And Costas Pitas

Reuters – Michele Kambas And Costas Pitas – Cyprus Weighs Big Bank Levy; Bailout Goes Down To Wire – 23 March 2013

CypresflagNICOSIA (Reuters) – Cyprus said on Saturday it was looking at seizing a quarter of the value of big deposits at its largest bank as it races to raise the funds for a bailout from the European Union and avert financial collapse.

Finance Minister Michael Sarris said “significant progress” had been made in talks in Nicosia with officials from the European Union, European Central Bank and International Monetary Fund. Continue reading