Noonan: Crisis in Cyprus means "very little for Ireland"

Noonan: Crisis in Cyprus means 'very little for Ireland'

The Finance Minister has said the current crisis in Cyprus means "very little for Ireland. "

Michael Noonan was speaking as he arrived in Brussels for a meeting of EU Finance Ministers to discuss the terms of a €10 billion bailout package for the debt stricken country.

It is believed the proposals will see a levy placed on all bank accounts worth over €100,000 - a move which is deeply unpopular with the Cypriot people.

If no agreement is reached at this evening's meeting then Cyprus could face economic collapse and be forced to leave the Euro.

Minister Noonan said that the levy being considered for Cypriot bank accounts would never be an option for Ireland:

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