Cyprus today

The business community in Cyprus and ordinary citizens protest against the introduction of deposits in banks. The Communist Party called for a referendum.

“We feel like in wartime,” said the president of the Limassol industrial and trading chamber (the second largest city of Cyprus-approx. Ed.) Filoky) Andreu. “As if the Turks have invaded the Turks again. Only now we are fighting with weapons, but with financial instruments. For us it is a financial genocide.” Andreu, writes Der Spiegel , expresses the mood of a significant part of the business community and Cypriots, their fears that deposits tax will lead to the outflow of capital, including Russian citizens, from the island. But it is thanks to these means that the publication clarifies, for 20 years in Cyprus there was an economic boom. Street protests have already led to the fact that the Communist Party made the initiative to hold a referendum on the introduction of deposits tax.

Photo: Reuters

The decision on forced recapitalization was made at the EU summit as part of a package of measures to save Cyprus banks. Now the island state is necessary to save the banking system, according to preliminary estimates, about 17 billion euros. 10 billion agreed to allocate a European bank with the condition that the Cyprus government will find the missing amount independently. For this, it is proposed to introduce a one -time tax on bank deposits in the amount of 9.9% in deposits over 100 thousand euros and 6.75% in smaller deposits. Losses of depositors in Cyprus banks can amount to almost 6 billion rubles, of which a significant part is 40% - the money of Russian depositors in Cyprus.

Photo: Reuters

The buffer zone in Nicosia between the Greek Republic of Cyprus and the Turkish Republic of Northern Cyprus. Photo: Reuters

Unemployed exchange. Photo: Reuters