Grand Theft Cyprus: Part II
by Stephen Lendman
Grand theft reflect Western policy.
Cypriot legislators rejected Plan A. At issue was taxing savings accounts over 100,000 euros 9.9% and small depositors 6.75%. Plan B followed.
On March 21, the Financial Times headlined "Cyprus targets big depositors in bank plan," saying:
On Friday, Cypriot legislators will "debate a 61-page bill on the banking system".(L)awmakers (say) they need more time"."
Seven other bills were tabled. One included banking activity restrictions. Issues regarding check cashing and other transactions were addressed.
The Wall Street Journal headlined "Clock Ticks on Cyprus," saying:
Legislators will consider a plan "to restrict noncash transactions, curtail check checking, limit withdrawals and even convert checking accounts into fixed-term deposits"."