Cyprus
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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
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