More Cyprus, what else.

This morning’s news talks about a Cypriot initiative to bring the depositor “tax” threshold down to 20K Euro’s rather than affecting all accounts below 100K Euros. This is clearly an effort to protect the little guy, rather than the overseas account holder (with multiple accounts just under the 100K deposit insurance threshold)! Anyway, from what I read, those guys will move their accounts to Latvia as soon as the banks open on Thursday. And the Cyprus parliament rejected the whole “tax” proposal  a little while ago.

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