The central bank governor Panicos Demetriades said the legislation was needed to avoid the collapse of Banks, particularly that of the country's second largest bank, the Cyprus Popular bank.

央行行长Panicos Demetriades称该法案是为了避免银行倒闭，尤其是该国第二大银行—塞浦路斯大众银行。

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"We will have a program of support for Cyprus by Monday, " central bank governor Panicos Demetriades said as he left a meeting with the country's president and political party leaders.

NPR: Cyprus Has 4 Days To Find Bailout Solution

And in a further indication of just how complicated this could become, the Cypriot Central Bank Governor Panicos Demetriades said he expected that 10% of deposits would be withdrawn when banks finally open.

BBC: Cyprus bailout: Who messed up?

As meetings among the country's political leaders, lawmakers and bankers continued for a fourth day since the bailout deal was reached, central bank Governor Panicos Demetriades warned lawmakers that prolonged uncertainty for the country's banks could lead to depositors withdrawing their money if confidence wasn't restored soon.

WSJ: Cyprus Parliament Rejects Bank Deposit Tax