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Crisis Bailout Backfires: Depositors fear loss of savings in Cyprus debt payoff
18.03.2013. | Cyprus may make its citizens shoulder a 12.5-percent crisis tax on savings larger than €100,000, while reducing the tax for smaller deposits to 3 percent, Reuters reported. Panic ensued as Cypriots rushed to withdraw savings.
The Cypriot government has been discussing with its European creditors the idea of reducing the levy on deposits......
