Eurozone says ditch Cyprus tax grab on smallest accounts
- Published: 18 Mar 2013 at 10.49
- Online news: World
The eurozone told Cyprus on Monday to ditch the part of a hugely controversial 5.8-billion-euro grab on savings that stung even the smallest of account holders in exchange for a 10-billion-euro sovereign bailout deal, according to a statement issued after a conference call.
Cypriots protest against an EU bailout deal outside the parliament in Nicosia on March 18, 2013. The eurozone told Cyprus on Monday to ditch the part of a hugely controversial 5.8-billion-euro grab on savings that stung even the smallest of account holders in exchange for a 10-billion-euro sovereign bailout deal, according to a statement issued after a conference call.
Finance ministers "continue to be of the view that small depositors should be treated differently from large depositors and reaffirms the importance of fully guaranteeing deposits below 100,000" euros ($130,000), Eurogroup President Jeroen Dijsselbloem of The Netherlands said in the release.
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