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

|By:, SA News Editor

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)