The parliamentary vote on the levy has reportedly been postponed after Cypriots rushed to cash machines to withdraw cash.
“This creates a precedent and is a bit scary,” said Matthieu Giuliani, a fund manager at Banque Palatine, in a Bloomberg report. “It hurts the market. But this is case specific to Cyprus. I don’t see Germany or the EU imposing such a thing on Spain or Italy. It would create panic in the banking system.”
Global X FTSE Greece 20 ETF
