Cyprus Parliament Postpones Emergency Session To Discuss Bank Levy

Photo: Flickr/sk12

Cyprus’s parliament on Sunday postponed an emergency session to discuss a levy on bank savings imposed to partially fund an international bailout needed to stave off bankruptcy.All meetings were postponed until Monday, the Cyprus News Agency reported. Earlier, Cypriot President Nicos Anastasiades postponed an informal meeting of lawmakers called for Sunday morning.

Several parties in the 56-member chamber, where no party has an absolute majority, were meeting on Sunday morning to formulate positions over the bank levy. Three parties have already said they will not back the plan.

Related

  • Europe: Government
  • Will Cyprus Vote for Savings Levy to Avoid Bankruptcy?
  • Cypriots Withdraw Savings to Avoid Bailout Tax
  • Euro Zone Agrees to $13 Billion Bailout for Cyprus

This story was originally published by CNBC.

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