Cyprus sets up investment fund as part of bailout package
- Published: 21 Mar 2013 at 18.49
- Online news: World
Cyprus politicians Thursday agreed to set up an investment fund as part of a Plan B to secure a bailout deal with eurozone lenders, while ruling out a tax on bank deposits that sank an earlier deal.
People wait in line to withdraw money from an ATM of a Laiki (Popular) Bank branch in the centre of the capital, Nicosia on March 21, 2013. Cyprus politicians agreed to set up an investment fund as part of a Plan B to secure a bailout deal with eurozone lenders, while ruling out a tax on bank deposits that sank an earlier deal.
"Following a proposal by (President Nicos Anastasiades), there was a consensus reached and a unanimous decision was taken for the setting up of an Investment Solidarity Fund," government spokesman Christos Stylianides said in a statement.
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