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UK customers escape bank levy

Around 15,000 savers in the UK arm of stricken Cypriot bank Laiki will see their deposits protected under British rules and will escape the Cyprus banking levy.

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Decision postponed on dipping into Cypriot savings

  • The Cypriot Parliament says the debate and vote on the controversial charge on savings accounts has been pushed back to Monday
  • If approved, the plan would impose a one-off charge of 6.75% on all deposits under €100,000 and 9.9% over that amount
  • Some Cypriot politicians condemned it as unfair, which could threaten its chances of being approved in parliament
  • It would mark the first time that the 17 eurozone countries and the IMF have dipped into peoples' savings to finance a bailout

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