Saturday, March 16, 2013 - 10:04 AM
People in Cyprus have reacted with shock to news of a one-off levy on savings as part of a 10bn-euro (£8.7bn; $13bn) bailout agreed in Brussels.
People in Cyprus with less than 100,000 euros in their accounts will have to pay a one-time tax of 6.75%, Eurozone officials said.
Those with greater sums will lose 9.9%.
Cypriot bank officials quoted by AP news agency said depositors could access all of their money except the amount set by the levy.
Could this happen hre in the US???
1. Saturday, March 16, 2013 - 2:33 PM
Already is, think it's called "Income Tax". Let that happen and see how many folks bail to offshore banking or revert back to "mattress banking".
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