Europe

Russians protest Cyprus savings levy

Russian citizens, with approximately $26bn in Cypriot banks, stand to lose millions to new bailout deal tax.
Last Modified: 19 Mar 2013 02:02

Some of the loudest protests against the proposal of a one-time levy on savings account holders in Cyprus to help ease the country's debt burden have come from Russia.

That is because Russian citizens have around $26bn invested in Cypriot banks.

The proposal for the levy is part of a 10bn euro ($12.95bn) EU bailout for the island country.
 
Al Jazeera's Robin Forestier-Walker reports from Moscow.

67
Source:
Al Jazeera
Topics in this article
People
Country
City
Organisation
Featured on Al Jazeera
Al Jazeera's exclusive publishing of a key Guantanamo prison military document lays bare the brutality of force-feeding.
Former military official says poverty and anger in indigenous communities mean conditions for an "insurgency" are ripe.
A four-part series that gives a rare insight into the country on the move, with history in tow.
Series on the Palestinian 'catastrophe' of 1948 that led to dispossession and conflict that still endures.
Featured
Hezbollah's hand in Syria
Lebanon-based militia is assisting villagers caught up in the conflict, and reportedly fighting alongside Assad forces.
Syria: The War Within
Two years since the start of the uprising, rebels and Assad's forces remain locked in conflict.
Afghan archaeology site faces rocky future
Copper-rich Mes Aynak is home to ruins of ancient villages, but threatened by a planned Chinese mining project.
China Rising
A four-part series that gives a rare insight into the country on the move, with history in tow.
Crisis in Bangladesh
Extensive coverage of war crimes tribunals and controversial calls for blasphemy laws.
join our mailing list