The ECB is reportedly not in favor of taxing Cyprus bank deposit accounts under €100K, reports...

|By:, SA News Editor

The ECB is reportedly not in favor of taxing Cyprus bank deposit accounts under €100K, reports Bloomberg, with a bank spokesman saying the plan is a design not of Brussels, but of the Cypriot government. German finmin Schauble says the same, and say his country wouldn't have issue with another solution. We'll see whether the quick-step back from this plan calms the markets today.