Cyprus proposes investment fund to secure EU cash
(03-21 19:25)
Cyprus politicians agreed to set up an investment fund as part of an alternative plan to secure a bailout deal with euro zone lenders, while ruling out a tax on bank deposits that sank an earlier deal.
“Following a proposal by [President Nicos Anastasiades] there was a consensus reached and a unanimous decision was taken for the setting up of an Investment Solidarity Fund,'' government spokesman Christos Stylianides said in a statement.
Other political leaders emerging from a crisis meeting with Anastasiades to hammer out a revised bailout plan said the subject of a “haircut’’ on bank deposits had been ruled out completely.- AFP
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