As I write, the Cypriot President is in Brussels trying to negotiate a deal to rescue his financially strapped country from bankruptcy. The potential deal is thought to include a mandatory tax of 20% on those with savings over €100,000. Last week the tax that was being agreed was 10% on all savings over €10,000 which amounts to legally sanctioned daylight robbery.
It’s an understatement to say people on the island are aren’t very pleased
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