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British outrage over savings tax plan on Cyprus

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British outrage over savings tax plan on Cyprus


In Cyprus thousands of British have reacted with outrage at the plans to tax bank accounts which are in credit.

The great EU bank robbery, as it has been dubbed by some of the 60,000 or so ex pats living on the island has forced many to start plans to withdraw their savings.

Susan Cairns who has lived and worked on the island since 2007 was furious: “On Tuesday I plan to go to the bank and withdraw all the money I have in there and have nothing left in there. You know, I can’t trust them anymore. It’s theft. They are stealing from me. That’s how I see it.”

“I think it is particularly unfair for people that have saved and tried hard to keep some money in the bank, and it’s just a blanket tax across everybody. I understand people with higher savings getting taxed more, but 6.75 percent seems an awful lot of money to me. I think it’s a very clever way of making sure that Cyprus pays its fair share,” opined another, Stuart Cowell.

British finance minister George Osborne said his government will reimburse military and government personnel working on the island, but the UK tax payer will have to foot the bill.

British Cypriot Constantine Georgiou believes Cypriot politicians should act. “The government should investigate thoroughly and find the people responsible for this mess, prosecute them, put them in prison, even if he is the ex-president, whoever is responsible,” he said.

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