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Cyprus

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absent Mon 25-Mar-13 10:33:28

Something to do with money laundering too, I think, sunseeker.

This will also affect businesses who have to pay wages and suppliers.

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sunseeker Mon 25-Mar-13 10:31:29

I think they are trying to target the huge amounts of money deposited by Russians but unfortunately other people will get caught up in it.

I don't know why there is so much Russian money in Cyprus (something to do with their banking system I think).

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HUNTERF Mon 25-Mar-13 09:59:25

It may look as if only rich people will be affected by the tax on bank deposits who have over 100,000 euros.
These people are not rich for example if they have just retired and it is their retirement nest egg which can not be replaced and people are relying on the interest for some income.

Frank

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