Cyprus Bank-Levy Passage in Doubt as EU Shows Flexibility
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Cypriot lawmakers were poised to reject an unprecedented levy on bank deposits in a parliamentary vote, risking renewed euro turmoil and raising the prospect of the country’s default.
Parliament began debating the measure about 6 p.m. in the Cypriot capital, Nicosia, after President Nicos Anastasiades told German Chancellor Angela Merkel in a phone call that he doesn’t have the support to pass it. Lawmakers “feel and think it isn’t just and that it’s against the interest of Cyprus,” he told Sweden’s TV4 channel in an interview today.