Panic has set in as people try to stop their cash being taken. Cashpoints have been emptied and banks are now closed until Thursday to prevent money being withdrawn.
Those with more than 100,000 euros in their accounts face having nearly ten per cent taken from them while those with less than that face a penalty of 6.75% if the Cypriot government back a plan that will raise 5.8 billion euros from a ‘one-off’ levy on Cypriot deposits in return from 10 billion euros of support.
Anna Wall moved from Jersey to Paphos in 2011 and faces significant deductions as she runs a swimming pool maintenance company in the country. ‘It is dreadful to think that our money is just going to be stolen from our bank accounts. You use a bank because you think your money is safe,’ she said.
