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Levy on Cyprus depositors is inevitable: Eurogroup chief
By Robin Emmott BRUSSELS (Reuters) – Russia is not going to come to Cyprus’s rescue with new loans and any bailout of the Mediterranean island will have to involve some kind of levy on depositors, the man leading the euro zone’s efforts to reach a deal said on Thursday. Cyprus has faced the prospect of bankruptcy since Tuesday when its parliament voted unanimously against a levy on bank deposits to raise nearly 6 billion euros ($7.5 billion) demanded by the euro zone, in addition to a 10 billion euro rescue
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Levy on Cyprus depositors is inevitable: Eurogroup chief
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