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Cypriot President Nicos Anastasiades was due to travel to Brussels today to try to obtain a...

Cypriot President Nicos Anastasiades was due to travel to Brussels today to try to obtain a Troika bailout for his country, with eurogroup finance ministers scheduled to meet at 5 pm GMT (1 pm ET). The latest proposal is for a 20% tax on foreign deposits of over €100,000 at the Bank of Cyprus, and a 4% levy on accounts of above the same level at other banks. The thought of such a swingeing tax might get the Russian back to the table. (More)
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