Cyprus rejects 'bail-in' of island's depositors
Cyprus will oppose forcing losses on uninsured depositors to rescue the country's banking system.
Cypriot finance minister Vassos Shiarly responded to a report in Monday's Financial Times by saying:
"We do not accept, nor are we discussing, nor can we ever accept this. We categorically state that such a move would be illegal under Cypriot law and, I believe under European law."