Article Image
IPFS News Link • European Union

Here's The Last-Ditch Plan Cyprus Is Going To Pitch To The EU This Weekend

• Business Insider

Nicos Anastasiades was due in the Belgian capital on Saturday after a sitting of Cypriot parliament last night approved a series of bills aimed at securing the country a European Union bail-out.

The measures include a bill to restructure ailing Cypriot banks, and restrictions on financial transactions to stop a cash-flight from the country in the wake of last week's panic. There will also be a revenue-raising tax of less than 1 percent on all bank deposits - a move seen as fairer than the levy of 6.75 per cent originally proposed on deposits between 20-100,000 euros, which was rejected by the Cypriot parliament last Tuesday.

1 Comments in Response to

Comment by Jacques Jaikaran
Entered on:

I can solve their financial woes in less than 24 hours. Unfotunately, cognitive dissonance and ignorance reign supreme on planet Earth.