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Cyprus Surprise Savings Tax. Europe's Core Problems Back to the Front Burner.

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The European Central Bank, International Monetary Fund and Cyprus announced an immediate and surprise tax of 6.75% to 9.95% on savings accounts that will be withdrawn on Tuesday morning (Monday is a holiday in Cyprus).  It should raise about 5.8 billion Euros or $7.5 billon.  It seems the ECB and [...]

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International,Markets,Cypress,European Central Bank,Greece,International Monetary Fund,Ireland,Spain

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