The UK Government says it will repay any money seized from the bank accounts of British service personnel working in Cyprus, but other British expats are likely to lose between six and 10 percent of their savings.
The Parliament of Cyprus will decide tomorrow whether to seize money from all savings accounts as part of a bail-out plan to rescue the island's banks.
ITV News' Nina Nannar reports:
Cyprus' rescue deal has sent shivers through southern Europe after a key eurozone figure said it would be a model for future bailouts.
The future is uncertain for the people who must live with the consequences of Cyprus' "painful" bailout deal.
The Dutch Finance Minister has said the bank levy 'bail-in' on large depositors "pushes back the risks" from the rest of the eurozone.