Vladimír Urbánek (Kurzy.cz)
Markets  |  March 21, 2013 16:00:52

Cyprus has finally given up the idea of ??taxation of contributions, the ECB gives banks time to 25 3, then it is cut off from sources of liquidity, Russia could lend money and invest elsewhere


ECB today clarified its position on Cyprus and its banking system, stating that after 25 March Cypriot banks cut off from rescue funding. ECB stated that the program still functioning ELA (emergency liquidity assistance) may after 25 March only work if in the meantime to deal with Cyprus "Troika" of generally acceptable form of solution of Cyprus problem ensuring adequate solvency Cypriot banks. The head of the Central Bank of Cyprus Panicos Demetriades in an interview said that the necessary agreement will be reached before the expiration of the limit of the ECB.

According to agency reports, relying on comments of the Cypriot Minister of Finance of Russia rejected the possibility of providing additional loans, but the game is in this respect rather an opportunity for investment in the energy industry in the country.

According to Russian Prime Minister Dmitry Medvedev Cyprus has already completely dropped the idea of ??taxing bank deposits. The original form of assistance was proposed by the EU under Medvedeva absurd and surprising in its unpredictability and lack of consistency with the interests of the euro area.
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