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bank raid

Cyprus To Raid Bank Accounts; Mattress Option Not Quite as Absurd As It Was Yesterday

March 18, 2013

Over the weekend, news broke that Cyprus was planning to raid peoples’ bank accounts in exchange for bailout money from the European Union.  Under the plan, those with deposits of more than 100,000 Euro would have 10 percent of their bank account raided while those making sense would “only” lose 3 percent of their savings. [...]

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