CypRIOTs?

Confusion and anger over the ‘Stability Levy’ (looks like a PR firm got a gig out of the thing).

• One guy drove his bulldozer to town and parked it in front of the bank (lucky he didn’t park it in the lobby…).
• People scrambled to pull their money out of ATMs
• Restrictions put in place to stop depositors emptying accounts or moving money abroad
• Up to 60,000 British savers are to lose
• Treasury sources said that “deposits in UK subsidiaries and branches [ in the London branches of Bank of Cyprus UK and Laiki Bank] aren’t affected”
• Depositors will receive bank equity as compensation

Treasury reassures British savers over funds held in Cypriot banks’ London branches

Up to 60,000 British savers face losing thousands each after £8.7billion EU bailout imposes tax on ALL bank accounts in Cyprus

The Cyprus bail-out: Unfair, short-sighted and self-defeating (The Economist)

Source: Mail Online