'60% levy' possible in Cyprus

Savers with the Bank of Cyprus could be given shares in the bank, a source close to the negotiations has told the news agency Reuters as some initial details of the euro bail out are released.

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Cyprus financial restrictions 'lifted in a month'

Cyprus expects to fully lift the regime of financial restrictions on its banks in "about a month," Cypriot Foreign Minister Ioannis Kasoulides said.

"A number of restrictions will be lifted and gradually, probably over a period of about a month according to the estimates of the central bank, the restrictions will be fully lifted," Kasoulides told reporters.

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