NICOSIA (Reuters) - Cyprus conceded on Saturday to a one-off levy on deposits over 100,000 euros (85,278 pounds) in a dramatic U-turn as it raced to satisfy European partners and seal an 11th-hour bailout deal to avert financial collapse.
The island's finance minister, Michael Sarris, reported "significant progress" in talks with international lenders, with the clock running down to and end-Monday deadline for Cyprus to clinch a bailout deal with the EU or lose emergency funding for its stricken banks and risk tumbling out of the euro zone.
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