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Cyprus Central Bank Warns of Capital Flight

From spiegel.de

It appears unlikely the Cypriot parliament will on Tuesday approve a law forcing the partial expropriation of accounts held by the country's depositors. Central bank officials are also warning a new compromise proposal will fall to raise the billions needed. The vote was already delayed by two days, but the government in Cyprus is warning that legislation imposing a one-time levy on bank depositors is likely to be rejected on Tuesday anyway. Government spokesman Christos Stylianides said Cypriot President Nikos Anastasiades had informed German Chancellor Angela Merkel and European Economic and Currency Affairs ... (full story)

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