Monday, 18 March 2013

Eurozone officials decided levy to be imposed on all deposits in Cyprus

On Saturday, Eurozone officials decided that a 6.75% levy would be imposed on all deposits under €100,000. Accounts over €100,000 would have a levy of 9.9%. The intention is to bring down the bailout cost. Although Eurozone officials insisted that this measure of imposing levies on deposit is limited to Cyprus. There are genuine fear among investors regarding Italy and Spain.

The global anxiety due to Cyprus are now heightened.

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