May 20, 2013

Cyprus banks closed until Thursday

Cyprus Banks will be closed until Thursday as policy-makers are set for a decisive vote as to how the proposed bank levy on savings will be applied.

Under current proposals, savers with over 100,000 Euro’s will be hit with a one-off 9.9% charge on savings, with a 6.75% levy being applied to savings of under 100,000 Euro’s.

Read More: BBC

 

 

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