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German Left Wing to vote against bailout

The German Left Wing Linkspartei will be voting against the South Cyprus bailout in the Federal Assembly debate, it has announced.

Head of the party, Sarah Wagenkneckt, said that Germans should not be paying to rescue Greek Cypriot banks. She feels that that ought to be left to the shareholders and depositors.

It should be added that the Cyprus bailout is, in fact, a done deal. South Cyprus banks are already taking steps to stop a rush on bank deposits being withdrawn, following the announcement of a one-off tax being levied on all bank deposits in the south on Tuesday as part of the bailout agreement.

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