NICOSIA - The Eurogroup will hold an extraordinary teleconference Monday evening to discuss the latest moves on the Cyprus bailout.
The focus will be the government's proposals on the level of the "haircut.”
Sources say there are alternative scenarios, which provide for reduction of the "haircut" for deposits of up to 100,000 euros from 6, 75% to 3% and increased taxation on deposits over € 100,000 at 10%. For deposits of more than 500,000 euros, there would be a "haircut" of 12.5%.
Another idea is that the haircut on deposits over half a million euro would be subject to a "haircut" of up to 15%.