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Dublin: 13 °C Friday 5 June, 2020

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?

Image: AP Photo/Petros Karadjias

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 (1819)
Yes (212)

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About the author:

Christine Bohan

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