Poll: Is Cyprus right to tax people's savings?

Cyprus is trying to push ahead with the EU bailout deal which will see people’s savings taxed – but is this fair?

CYPRUS POLITICIANS FACE an uphill battle today to pass the EU’s bailout deal for the island with its deeply unpopular proposal to tax people’s savings.

The one-off bank levy is unprecedented in EU bailouts. The move is aimed at getting money from rich depositors – particularly Russian oligarchs, who are believed to have billions in Cyprus’s banks – who will pay the most amount of money, but will affect anyone with any money in a savings account. It will also reduce the amount of money that the country will need from EU creditors in the bailout.

So today we’re asking: Is Cyprus right to tax people’s savings?

Poll Results:

No (1821)

Yes (213)

Making a difference

A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.

For the price of one cup of coffee each week you can make sure we can keep reliable, meaningful news open to everyone regardless of their ability to pay.

Support us Learn More