Cyprus banks to stay closed to Tuesday, Irish Govt 'clear as crystal' no levy will happen here
Banks in Cyprus will stay closed until at least Tuesday as the Cypriot government holds emergency talks on the crisis.
Banks on the island have now been closed since Saturday to prevent a run on accounts after the government secured a deal for a bailout that slapped a one-time levy of up to 10% on savers' bank deposits.
The measure was rejected by parliament last night, plunging the island into a fresh economic crisis.
Meanwhile, Agriculture Minister Simon Coveney has moved to reassure people here that their savings are safe.
Taking leaders questions in the Dáil, Simon Coveney said there was no sign of any flight of cash from banks here as a result of events in Cyprus.
Minister Coveney said the Cypriot government proposed a tax on savings, and we would not follow suit under any circumstances.
"Let me give an absolute guarantee on behalf of the Government that under no circumstances will this Government look to introduce a Cypriot-style levy on deposits for any purposes in terms of raising money," he said.
"I'm clear as crystal from a Government point of view that we will not be targeting bank deposits for any purposes."
