Arab Today, arab today cyprus government revises bill on bank deposits levy
Last Updated : GMT 01:58:46
Arab Today, arab today
Arab Today, arab today

Cyprus government revises bill on bank deposits levy

Arab Today, arab today

Arab Today, arab today Cyprus government revises bill on bank deposits levy

Nicosia - XINHUA

The Cypriot government has revised a draft bill providing a levy on bank deposits which aims at protecting small deposits by excepting savings under 20,000 euros (25,800 U.S. dollars).The new bill was sent to parliament to be examined by the finance committee prior to its debate at a plenary session, but there is a strong possibility that parliament will postpone for a third day running its session in the face of a lack of support by deputies.Cyprus President Nicos Anastasiades told a Swedish television in an interview that he does not expect the bill to pass through the House of Representatives.Anastasiades also said he was deeply disappointed and annoyed by the lack of solidarity on behalf of Cyprus\' European Union (EU) partners.A government minister has said that the government is working on a plan B in case the bill is rejected by parliament and the European Central Bank turns off the tap on emergency liquidity assistance to Cypriot banks.\"We have to have an alternative plan to deal with the situation,\" Defense Minister Fotis Fotiou, a top official of DIKO party, the junior coalition partner which has voiced strong reservations over the Eurogroup levy scheme.The new bill prepared by the finance ministry sets a zero percent levy on deposits of up to 20,000 euros, a 6.75 percent rate for savings between 20,000 and 100,000 euros and a 9.9 percent tax on all deposits above that mark.Depositors will be compensated with bank shares backed by government bonds connected to future earnings from the development on natural gas discovered in marine fields of the south shores of Cyprus.The benefit of bond secured stock will apply only to those savers who will keep their money in Cypriot banks for two years.Central Bank governor Panicos Demetriades told the finance committee that by sparing small depositors from the levy the government will not be able to raise the full 5.8 billion euro amount set down by the Eurogroup.He also said that Cypriot banks stand to lose more than 10 percent of their deposit base within a matter of days if parliament passes the levy bill. (1 euro = 1.29 U.S. dollars)

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today cyprus government revises bill on bank deposits levy Arab Today, arab today cyprus government revises bill on bank deposits levy

 



Arab Today, arab today
Arab Today, arab today Nasima Gamei revives Algerian heritage in jewelries

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives Algerian heritage in jewelries
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday