Don't tase me, Bro!

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By: weatheringpoints, 4:49 AM GMT on March 17, 2013

Updated: 4:52 AM GMT on March 17, 2013


Cyprus today,

By: weatheringpoints, 7:21 PM GMT on March 16, 2013

Savers bear brunt of unprecedented Cyprus bailout

(Reuters) - The euro zone struck a deal on Saturday to hand Cyprus a bailout worth 10 billion euros ($13 billion), but demanded depositors in its banks forfeit some money to stave off bankruptcy despite the risks of a wider run on savings.

BBC News Europe reports: Shock in Cyprus as savers face bailout levy

People in Cyprus have reacted with shock to news of a one-off levy of up to 10% on savings as part of a 10bn-euro (£8.7bn; $13bn) bailout agreed in Brussels.
. . .

People in Cyprus with less than 100,000 euros in their accounts will have to pay a one-time tax of 6.75%, Eurozone officials said.

Those with greater sums will lose 9.9%.

South Park aaand, it's gone!

Saved the best for last...
From Forbes:
The Cyprus Bank Bailout Could Be A Disastrous Precedent: They're Reneging On Government Deposit Insurance

Considered and considerate comments are welcome


The views of the author are his/her own and do not necessarily represent the position of The Weather Company or its parent, IBM.

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