Cyprus vs Bankocracy: ‘Mattress better place to keep cash than banks’

Thousands of Cypriots are celebrating, after the country’s Parliament gave a resounding no vote to the EU-IMF bailout package. The move could have seen the government take up to 10% of people’s savings, from private bank accounts – as a precondition to securing the much needed 10 billion euro loan. Now that it’s been rejected, the ailing Eurozone member will have to work out another plan to avoid bankruptcy.



Categories: Business

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