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Cyprus and Troika agree to 20% tax on deposits over 100,000 euros at Bank of Cyprus

 
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03/23/2013 12:05 PM
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Cyprus and Troika agree to 20% tax on deposits over 100,000 euros at Bank of Cyprus
Cyprus and the Troika have agreed to a 20 per cent tax on deposits over 100,000 euros at the Bank of Cyprus and 4 per cent on deposits held at other banks.

A senior Cypriot official told Reuters that a plan to tap nationalized pension funds would not be a part of a plan to raise billions of euros in return for a bailout from the European Union. Cyprus said earlier on Saturday that it was looking at seizing a quarter of the value of big deposits at its largest bank in order to raise such funds.
[link to rt.com]

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