Wednesday, March 20, 2013

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Euro zone finance ministers urged Cyprus in a tax on bank deposit of pass small savers. Cyprus parliamentary vote on tax on Tuesday, will determine whether the country can get financial aid, or face the danger of default,replica oakleys.
Cyprus announced over the weekend, as for the eu 10 billion euros ($13 billion) bailout plan, as part of the country's tax will account to the bank. After practice is that the interests of depositors is inviolable.
The euro and European stock markets fell, on concerns that tiny Cyprus may be renewed financial crisis in the euro area. At the same time, public anger of Cyprus in the heavily guarded before parliament held a demonstration in the country.
On Tuesday, officials said before the vote euro zone finance ministers held a conference call late and said deposit less than 100000 euros of small depositors should be protected. If the vote is expected to present stalemate situation, cannot pass, would affect the euro zone as a whole.
According to the agreement reached in Brussels on Saturday, the amount under 100000 euro bank account to pay the tax of 6.7%, more than the amount need to pay 9.9%.
Finance ministers said they tend to be more savings account rates rise to 15.6%, the amount of fewer small savings account escaped.
A Greek finance ministry sources said that Cyprus is unclear whether they would accept the proposal, if accepted, Cyprus is still able to receive 5.8 billion euros via a tax on bank deposit as planned.
"All the eurogroup finance ministers today, say they want to don't tax account deposit less than 100000 euros, but you cannot force a country don't do that,oakley sunglasses sale," the Greek sources told Reuters.
Cyprus "reluctant to higher tax rates higher than 100000 euros of savings account, because that money will flow out. Two-thirds of the country's savings from abroad."
For bank account tax decision shocked people of Cyprus, about 400 people loudly protested outside parliament.
Demonstrators waving placards, the words "hanging of bankers, don't touch people deposit", "merkel stay home."
Savers of the money in the weekend take empty self-service teller machines, investors worried that the European central bank did all he could to save the euro commitment has the euro in recent months quiet a lot of, if you could set a precedent to cause turmoil in the eurozone,
Speaker said discussions on bank taxation will be delayed to Tuesday (1600 GMT), in order to strive for more time to reach an agreement. Bank closed because of bank holiday on Monday, Tuesday and Wednesday will remain closed, in a bid to avert panic.
Greek sources said, the vote will go ahead as planned on Tuesday,cheap oakley sunglasses.
The eurozone has pointed out that, as long as can provide around 6 billion euros of aid, can accept structure adjustment.
"Now depends on the government to decide whether you want to adjust structure," the European central bank chief andreas muston said to reporters. "What is important is that 5.8 billion euros of fundraising remains unchanged."
Ordinary street in Nicosia, Cyprus accused European leaders, especially German chancellor Angela merkel. Write down "against" protesters in the palm with ink. "Europe is the European people in Europe, not in Germany,fake oakleys," a placard read.

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