Up to 60,000 British savers are to lose thousands of pounds each after European finance chiefs ordered an unprecedented raid on personal bank accounts.
Expats and UK troops based in Cyprus will have their savings decimated as part of a painful bid to bail out the bankrupt island.
Britons have about £1.7 billion of deposits in Cyprus and could lose up to £170 million.
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9 comments:
Good to see you back Marc ....
All is well in Cypress today ... you'll get a chance to save your savings .... unless the Cypriots legislate a ban on withdrawalls.
Anybody else surprised?
This started with the E.U., and I gather Cyprus isn't going along with it - which means, if it goes ahead anyways, it's rank, outright theft by the E.U. and the IMO.
Shocked I tell ya, SHOCKED!
- especially as all these bailouts the E.U. has been slinging-around are illegal under E.U. law anyways - when you're sitting on the throne, "laws" are absolute proscriptions to your subjects, minor irritations (if that) to you.
This is only going to get worse.
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