How Cypriots Could be Impacted by the Tax on Bank Deposits

The World
Lawmakers in Cyprus are set to vote on a bailout plan that would tax all bank deposits by 6.25 percent. Stavros Zenios is a professor of finance at the University of Cyprus in Nicosia. He's one of many people whose savings would be affected if the measure is adopted. He says this measure could cause a precedent for other European countries and encourage people to withdraw their money all at once.
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