British government STOPS pension payments to expats in Cypru
Posted: Mon 18 Mar 2013 10:44 pm
British government STOPS pension payments to expats in Cyprus so government won’t seize 10% tax for EU bank bailout
Payments to British pensioners on island suspended until vote on levy
Treasury Minister said Government would reimburse armed forces' losses
FTSE 100 initially fell by 1.5% but closed for the day just 0.5% down
Savers will lose up to 10% from accounts under unprecedented settlement
Move prompts fresh fears the eurozone could be on the verge of break-up
A parliamentary vote on controversial bank deposit levy has been postponed
Russia considering restructuring existing loan to Cyprus to bail out country
Vladimir Putin called levy 'unfair, unprofessional and dangerous'
Cypriot banks will remain closed on Tuesday and Wednesday
By HUGO GYE and MARIO LEDWITH
PUBLISHED: 09:07, 18 March 2013 | UPDATED: 17:50, 18 March 2013
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Pension payments to Britons living in Cyprus are being suspended amid growing uncertainty on the island due to an unprecedented raid on bank accounts.
The payments will not be made until the country's parliament votes on the controversial levy on bank deposits, proposed as part of a £8.6billion bailout by the European Union and IMF.
Treasury Minister Greg Clark said payments had been frozen today to ensure money from the Government reaches its intended recipient.
Read more: http://www.dailymail.co.uk/news/article ... z2NvFWZWyg
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Payments to British pensioners on island suspended until vote on levy
Treasury Minister said Government would reimburse armed forces' losses
FTSE 100 initially fell by 1.5% but closed for the day just 0.5% down
Savers will lose up to 10% from accounts under unprecedented settlement
Move prompts fresh fears the eurozone could be on the verge of break-up
A parliamentary vote on controversial bank deposit levy has been postponed
Russia considering restructuring existing loan to Cyprus to bail out country
Vladimir Putin called levy 'unfair, unprofessional and dangerous'
Cypriot banks will remain closed on Tuesday and Wednesday
By HUGO GYE and MARIO LEDWITH
PUBLISHED: 09:07, 18 March 2013 | UPDATED: 17:50, 18 March 2013
Comments (555)
Share
Pension payments to Britons living in Cyprus are being suspended amid growing uncertainty on the island due to an unprecedented raid on bank accounts.
The payments will not be made until the country's parliament votes on the controversial levy on bank deposits, proposed as part of a £8.6billion bailout by the European Union and IMF.
Treasury Minister Greg Clark said payments had been frozen today to ensure money from the Government reaches its intended recipient.
Read more: http://www.dailymail.co.uk/news/article ... z2NvFWZWyg
Follow us: @MailOnline on Twitter | DailyMail on Facebook