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Cyprus and the Eurozone: Update

Posted by Joseph Trevisani on Mar 22, 2013 2:40:00 PM

NICOSIA (MNI) - Cyprus lawmakers could reach a deal with international creditors on a bailout package within hours, a government spokesman said late Friday.

Speaking on television, Christos Stylianides said he was "cautiously optimistic" and believed that "in the next hours there will be a complete agreement" on the bailout.

All bills tabled to Parliament must also be approved by 'troika' as the EU Commission, the IMF and the ECB are called , he said.

Stylianides declined comment on the elements of the deal, but said he saw "positive signs from the Parliament" indicating that there is a majority to pass the bills.

However, a government official told journalists outside Parliament that political parties have been presented with several proposals, all including a deposit levy.

"We will try and name it something else, not a haircut," he said. "One of the proposals speaks of a high deposit levy on deposits over E100,000 oncerning deposits in the two ailing banks only."

There are "efforts to exclude social security and pension funds from the levy," he added.

- Athens bureau, Market News International;


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