The
Cypriot government has seized 6.75%~9.9% of all bank accounts as part of a bailout deal...
(Reuters) -
Europeans' faith in the safety of their savings has been shaken by a
levy on Cypriot bank deposits to pay for a bailout, even though there
was no sign of a rush to withdraw cash in Madrid or Dublin.
People told Reuters they were
angered but unsurprised that politicians should dip into citizens'
deposits. And as bankers expressed concern the proposed terms of
Cyprus's bailout could unnerve savers elsewhere, some leftist leaders
voiced outrage.
Euro zone finance
ministers want Cypriots to pay up to 9.9 percent of their deposits in
return for a 10 billion euro ($13 billion) aid package. If approved by
the island's parliament on Monday, it will be the first time savers have
had to foot part of the bill for a European bailout.
"What
they did to the Cypriots was a disgrace," said Maria Spyrou,
57-year-old Athens housewife who says she must support a daughter, a
nurse, who hasn't been paid for nine months.
Can you imagine the envy Barack Obama feels?
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