Savers at the Bank of Cyprus will pay one-off tax of 20 per cent on deposits of over €100,000
Regardless of what the cash figure is, or the % levy to be imposed or even who the "depositors" actually are, this is a proposal to legalise state theft from banks. It would set an unhealthy precedent not only for Cyprus, but for every other state in Europe and would encourage governments to believe that they can behave no better than pirates in the knowledge that their actions are endorsed and supported by the "Troika" of the European Union, International Monetary Fund and ECB. The ordinary people of Cyprus and every other country must stand firm against the excesses of the politicians and the sinister members of the troika. The financial crisis in Europe (and beyond) has essentially, been created by the banks and financial institutions, not by the ordinary people of the country. It is completely unacceptable, that they should be forced to pay for others incompetence, greed and deceptions.