ECB President Mario Draghi
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ECB: Cyprus plan to tax savers 'not smart'

A scrapped plan to tax savers in Cyprus through a bank levy was "not smart to say the least", ECB president Mario Draghi has said.

The controversial proposals were put forward in order to try to secure a 10bn-euro (£8.5bn; $12.8bn) international bailout.

But the plans sparked huge public anger and were later replaced by a new deal under which no depositors with less than 100,000 euros would lose money.

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