Tuesday 19 March 2013
Angry Cypriots demonstrate against bank savings tax
Protesters take part in an anti-bailout rally outside the parliament in Nicosia 18 March 2013
Reuters/Yorgos Karahalis
By Jan van der Made

Hundreds of furious Cypriots have protested outside parliament against a tax on their savings imposed under an EU bailout deal. They accused eurozone creditors of treating them like "guinea pigs" for a levy, which is unprecedented in the country's history. Accounts of more than 100,000 euros will be hit with a 9.9 per cent charge, while smaller accounts are to be taxed at 6.75 per cent. Nicos Trimikliniotis, an analyst in Cyprus, explains the impact of the new tax.

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