Cyprus Deposit Tax

The European Central Bank (ECB) said on Tuesday it remains committed to providing liquidity within certain limits despite Cypriot lawmakers overwhelmingly rejecting a levy on savers - a key term of the €10 billion proposed bailout. "The ECB takes note of the...

The Cypriot Parliament late on March 19, by a vote of 36-0 with 19 abstentions, overwhelmingly rejected a proposal put forth by international lenders and backed by President Nicos Anastasiades to confiscate up to 9.9 percent of bank deposits...