Cyprus considers levy exemption for small deposits

The BBC reports amounts between 20,000 euros and 100,000 euros would still face a tax of 6.75%. The levy on savings above 100,000 euros would remain at 9.9%. The tax, which has enraged people living in Cyprus, is a condition of the 10bn-euro loan from the European Union and International Monetary Fund put in place to rescue its banks. The Cypriot parliament is due to debate the bailout deal later today. Meanwhile, the UK government yesterday suspended pension payments to expat Britons living on the island. The Telegraph reports Treasury minister Greg Clark said payments due yest...