Eurozone finance ministers said Tuesday they still stood ready to help Cyprus after the island's parliament voted down a debt bailout accord which included an unprecedented bank deposit levy.
A Cypriot protestor holds a banner during a demonstration against an EU bailout deal outside the parliament in the capital, Nicosia, on March 19, 2013. Cyprus MPs on Tuesday overwhelmingly rejected a tax on bank deposits demanded by international lenders as a condition for a bailout deal, with a vote of 36 against, 19 abstentions and none in favour.
"I confirm that the Eurogroup stands ready to assist Cyprus in its reform efforts and reiterate the position of the Eurogroup" given Monday when it offered easier bank levy terms so as to reduce the impact on smaller savers, Dutch Finance Minister Jeroen Dijsselbloem said in a brief statement.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.