Eurozone may revise terms on Cyprus, says Vienna

Austrian Vice-Chancellor and Foreign Minister Michael Spindelegger said on Monday that the eurozone may well revise its package of measures for a bailout to Cyprus toward lightening the load on smaller depositors.

Spindelegger said in Vienna that developments in Cyprus do not constitute a risk for depositors in the European Union and that «this is Cyprus-specific problem.”

“We shall examine whether we can solve it in a way that will not have major consequences on small depositors,» he stated.

He reiterated that Austria, just like other EU countries guarantee deposits up to 100,000 euros.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.