The introduction of a levy on savings deposited in Cyprus does not represent a threat to the savings deposit guarantee scheme in Europe, the head of the Eurogroup, Jeroen Dijsselbloem has said.

Speaking in the European Parliament on 21 March, Dijsselbloem said that the one-off tax on savings more akin to a wealth tax rather than a scheme to undermine existing legislation.

His comments come after the Cypriot parliament rejected the terms of a bailout deal from international creditors t...

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