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Cypriot banks facing winding-up if no levy agreed -senior official
Posted to: Around The Web
Wednesday, March 20, 2013 8:00 PM

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BRUSSELS, March 21 (Reuters) - If Cyprus cannot agree on a levy on deposits it faces having its biggest banks wound down, which would wipe out uninsured depositors, or could be forced to leave the euro zone, a senior European Union official said on Thursday. "At the end of the day it is their own choice," said the official, who has direct knowledge of the negotiations between the euro zone, the International Monetary Fund and Cyprus.

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