BRUSSELS (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.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!