[QODLink]
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
As Western stars re-release 1980s charity hit, many Africans say it's a demeaning relic that can do more harm than good.
At least 25 tax collectors have been killed since 2012 in Mogadishu, a city awash in weapons and abject poverty.
Tokyo government claims its homeless population has hit a record low, but analysts - and the homeless - beg to differ.
3D printers can cheaply construct homes and could soon be deployed to help victims of catastrophe rebuild their lives.
Featured
Pro-Russia leaders' election in Ukraine's east shows bloody conflict is far from a peaceful resolution.
Critics challenge Canberra's move to refuse visas for West Africans in Ebola-besieged countries.
A key issue for Hispanics is the estimated 11.3 million immigrants in the US without papers who face deportation.
In 1970, only two mosques existed in the country, but now more than 200 offer sanctuary to Japan's Muslims.
Hundreds of the country's reporters eke out a living by finding news - then burying it for a price.