Cyprus

Commentary & Opinion
11:13 am
Wed March 27, 2013

Herbert London: Taxing Bank Depositors In Cyprus

Legislators in the tax-haven island of Cyprus have rejected the draconian bank deposit tax defying German leader Angela Merkel. While the protestors danced in the street after the vote, this could be a pyrric victory. President Putin threatened to withdraw a $3.2 billion loan if the Merkel proposal were embraced, a condition that might have influenced the final tally.

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