Cyprus is changing its planned bank deposits levy so smaller savers escape having to pay.

Under a new draft bill discussed in parliament', deposits below 20,000 euros would be exempt from any charge. Those between 20,000 and 100,000 euros would have a 6.75% levy imposed, and those above 100,000 euros would have a 9.9% charge.

The government wants to impose the levy to secure an international rescue of the country's troubled banks. EU ministers and officials have said 5.8 billion euros of the 15.8 billion euro rescue package must be raised by Cyprus.

The country's central bank governor recommended that no levy be imposed on accounts below 100,000 euros - the amount that is insured by the government.

Parliament is due vote on the plan today. Meanwhile the country's banks remain closed until Thursday.

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