Nailbiting Over Nicosia: Widespread Anger Erupts Over Bank Account Levy -- Spiegel Online
The euro-zone deal to save Cyprus from bankruptcy was hard-fought, and a long time coming. But the conditions placed on the bailout, namely a one-time tax on all bank deposits, have sparked fury in Cyprus and abroad. Parliamentary approval in Nicosia is far from certain.
Chancellor Angela Merkel and Finance Minister Wolfgang Schäuble have not won any friends in Cyprus this week. Sure, they approved a rescue package for the country, but at what price? People on the small island in the Mediterranean are reacting to the deal with shock, anger and disgust, with many rushing to ATMs to withdraw as much of their savings as possible before a chunk of it is confiscated to pay for their government's bailout.
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