NICOSIA, March 17 (Xinhua) - The Cypriot government would postpone a planned emergency session of parliament on Sunday to debate a controversial European Union bailout, media reports said.
The newly elected Cypriot President Nicos Anastasiades would also put off until Monday a planned briefing of MPs and a promised address to the nation to defend the necessity of a 10-billion-euro (13 billion U.S. dollar) bailout for the island's banks.
Declining the bailout would have led to the collapse of the island's two largest banks, the president said.
The bailout was said to be the first of its kind in the eurozone in which private depositors would be forced to help foot the bill.
The debt rescue package, agreed with the eurozone and International Monetary Fund, demanded on Saturday that the saver should pay up to 10 percent of deposits as a condition for the bailout.
Members of the parliament will now meet at 4 p.m. local time (1400 GMT) on Monday to debate ratification of the deal after a briefing by the conservative president at 11 a.m.