[Sirius]

Cyprus bailout: Parliament postpones debate

Looks like they are getting worried about the reaction of the people

http://www.bbc.co.uk/news/world-europe-21819990

Under its terms, people in Cyprus with less than 100,000 euros in their accounts will have to pay a one-time tax of 6.75%.

Those with sums over that threshold will pay 9.9% in tax.

Depositors will be compensated with the equivalent amount in shares in their banks.

On Saturday President Nicos Anastasiades admitted the deal was "painful" but said it was necessary to avoid a "disorderly bankruptcy".

But opposition leaders and savers - including many non-Cypriots - have expressed shock and anger at the proposal.

The deal requires the approval of parliament.

http://news.sky.com/story/1065753/cy...s-raid-bailout

Cyprus's parliament has postponed its decision on whether savers must pay a levy on bank deposits under terms for an international bailout to avert bankruptcy.

The vote which was due to take place later this afternoon has been pushed back to Monday.

The eurozone demand that savers pay up to 10% of deposits as a condition for the 10bn euro (£8.6bn) bailout has drawn criticism and anger in the eastern Mediterranean island.

Queues of people gathered at its cash machines on Saturday as they tried to withdraw their money ahead of the move

I can see this getting very ugly if they do raid bank accounts and remember this would include the accounts of British servicemen stationed in Cyprus on behalf of the UN. It would also mark the first time that the 17 eurozone countries and the IMF have raided peoples' savings and bank accounts to finance a bailout, something that i find disturbing