Cyprus will oppose forcing losses on uninsured depositors to rescue the country’s banking system.
Cypriot finance minister Vassos Shiarly responded to a report in Monday’s Financial Times by saying:
“We do not accept, nor are we discussing, nor can we ever accept this. We categorically state that such a move would be illegal under Cypriot law and, I believe under European law.”
Euronews’ Efi Koutsokosta said any final decisions on Cyprus would be taken in March — the country is holding presidential elections on Sunday.
“Also on the agenda are Germany’s calls for Cyprus to be more transparent on the issue of money laundering,” our correspondent in Brussels said.
Wealthly Russians have channelled funds into Cypriot banks, making any possible aid deal a hard sell to already sceptical German voters.
Eurogroup chief and Dutch Finance Minister Jeroen Dijsselbloem said: “I think we all agreed that a solution has to be reached on Cyprus and I think we should use the time that we have in view of the elections this month to work out the best possible solution. I’m sure that German government will agree on that”.
But the European Commission denied Brussels had proposed forcing losses depositors and investors, saying it wanted to “ensure fair burden sharing’ in any Cypriot rescue deal.
- 1Snowden, Assange and Manning statues unveiled in Berlin | euronews, world news
- 2Chomsky says US is world’s biggest terrorist | euronews, the global conversation
- 3euronews live TV - News | euronews : the latest international news as video on demand
- 4Nepal: ‘equally big earthquakes coming in eastern regions,’ expert tells euronews | euronews, world news
- 5It’s a girl: Britain’s Duchess of Cambridge gives birth in London | euronews, world news
- 6How Nepal earthquake devastated Kathmandu’s UNESCO heritage | euronews, world news
- 7Chernobyl Children: what makes Ukrainians born in 1986 different? | euronews, world news
- 8International breaking news | euronews online world breaking news in video
- 9Exclusive: unrest in FYR Macedonia could hit other Balkan countries warns Serbian PM | euronews, world news
- 10International tv news | euronews: European and International tv news bulletin
- 11Andrea Ferrari: the graphene guru | euronews, science
- 12Juncker to Hungarian PM Orban: “Hello, Dictator!”
- 13Portuguese language reform law goes global | euronews, world news
- 14EU membership remains Serbia’s priority, says PM Aleksandar Vucic | euronews, the global conversation
- 15Watch: France’s Jean-Marie Le Pen clashes with UKIP MEP Woolfe | euronews, world news
- 16Spain: the viral soldiers fighting in Madrid and Barcelona mayoral races | euronews, world news
- 17How young translators are helping knit European culture together | euronews, generation y
- 18Evidence of ancient wine found in Georgia a vintage quaffed some 6,000 years BC
- 19We will not be moved! China’s urban spread resistance [PHOTOS]
- 20How World War II shaped modern Poland | euronews, world news