Legally Robbed

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