Cyprus bank levy backtrack underway

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Having been part of the EU bailout decision to tax all of Cyprus's bank account holders - rich and poor - the International Monetary Fund has now said it supports the Cypriot government's efforts to ease the pain for smaller depositors.

IMF head Christine Lagarde, speaking at a financial conference in Germany, added her voice to the chorus of backtracking.

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http://www.euronews.net/

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