Cyprus bank levy: UK to compensate troops and government workers
The UK has said it will compensate any British troops or government workers in Cyprus hit by plans to introduce a bank levy as part of a £9bn EU bailout.
Under the plans, people in Cyprus with up to 100,000 euros in the bank would have to pay a one-time tax of 6.75%; those with more than that 9.9%.
Thousands of British expats in Cyprus could lose up to 10% of their savings.
Mark Lowen reports from Nicosia.
17 Mar 2013
- From the section Europe