Politicians in Cyprus are to hold an emergency parliamentary session to debate the 10bn-euro bailout which has angered the public.
The BBC reports President Nicos Anastasiades' Democratic Rally party has 20 seats in the 56-member assembly and needs other parties' support to ratify the deal.
The 10bn-euro (£8.6bn) bailout, agreed by the European Union and the International Monetary Fund (IMF) means all bank customers pay a one-off levy, However, this has angered the public and led to mass cash withdrawals.
The report said if the deal is not agreed in parliament banks could be closed on Tuesday to avoid further large scale withdrawals.
Under the bailout's terms, people in Cyprus with less than 100,000 euros in their accounts would have to pay a one-time tax of 6.75%. Those with sums over that threshold would pay 9.9% in tax, the BBC said.
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