First €20,000 of Cypriot deposits to be protected

The newest proposals for a bank levy on Cyprus deposits would see the first €20,000 of deposits protected, with a 6.7% from €20,000 to €100,000 then 9.9% over €100,000 (unchanged).

Cyprus’ parliament will meet at 16:00 GMT to vote on the levy proposal. Financial Minister Michael Sarris remains scheduled to fly to Moscow this Wednesday. Kremlin spokesman Dmitry Peskov has said that:

While assessing the proposed additional levy on bank accounts in Cyprus, Putin said that such a decision, should it be made, would be unfair, unprofessional and dangerous.

Germany blames Cyprus, EU, ECB and IMF. ECB blames Cyprus, Germany and EU. Cyprus blames everyone. EU says decision was unanimous. Funny…

— Fabrizio Goria (@FGoria) March 18, 2013