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Indeed.
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Osborne vows to protect Britain's armed forces in Cyprus as cash machines are EMPTIED and 60,000 British savers face losing millions in 10% bank account tax
Quote:
Up to 60,000 British savers are to lose thousands of pounds each as expats in Cyprus have their savings decimated in part of a painful bid to bail out the bankrupt island.
. . .Britons have about £1.7billion of deposits in Cyprus and could lose up to £170million. The Cypriot government has agreed to seize up to ten per cent of savings and use the money to bail out the islands crisis-hit banking system.
. . .If savers in other troubled nations fear their accounts might be next, they could withdraw their money and spark a catastrophic run on the banks.
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Indeed.
<broken link removed>
Osborne vows to protect Britain's armed forces in Cyprus as cash machines are EMPTIED and 60,000 British savers face losing millions in 10% bank account tax
Quote:
Up to 60,000 British savers are to lose thousands of pounds each as expats in Cyprus have their savings decimated in part of a painful bid to bail out the bankrupt island.
. . .Britons have about £1.7billion of deposits in Cyprus and could lose up to £170million. The Cypriot government has agreed to seize up to ten per cent of savings and use the money to bail out the islands crisis-hit banking system.
. . .If savers in other troubled nations fear their accounts might be next, they could withdraw their money and spark a catastrophic run on the banks.
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