Cypriot parliament passes solidarity and capital control bills; Levy to be voted on Saturday

FXstreet.com (San Francisco) - The Cyprus' parliament has approved bills on solidarity fund and capital control late on Friday. The parliament will meet on Saturday to vote the deposit-tax levy measure.

The capital control new law will provide government with powers to impose control on banks, create solidarity fund to pool state assets.

Meanwhile, Cypriot president Nicos Anastasiades, and party leaders, will go to Brussels on Saturday with a credible solution. The plan B must be ready for Sunday afternoon to the new eurogroup finance ministers.

According to sources, Cyprus is working to avoid being the “Argentina of the Mediterranean”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

RELATED TOPICS