Deposits over €100K at the Bank of Cyprus will be taxed at 62.5%, sources tell Reuters. The...

|By:, SA News Editor

Deposits over €100K at the Bank of Cyprus will be taxed at 62.5%, sources tell Reuters. The figure is far greater than officials originally indicated. Customers will get 37.5% of their deposits over the €100K threshold in bank shares while the remainder of their cash "may never be paid back."