Cyprus weighs big bank levy; bailout down to wire
The island’s finance minister, Michael Sarris, reported “significant progress” in talks with international lenders, with the clock running down to an end-Monday deadline.
Cyprus conceded yesterday to a one-time levy on deposits of more than 100,000 euros in a dramatic U-turn as it raced to satisfy European partners and seal an 11th-hour bailout deal to avert financial collapse.
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