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MoD flies emergency cash to Cyprus for British personnel

Posted By admin On March 19, 2013 @ 11:43 am In Money Watch | Comments Disabled

BBC News [1]
March 19, 2013

An RAF plane carrying 1m euros is flying to Cyprus from Britain as a contingency measure to provide military personnel with emergency loans, the Ministry of Defence says.

The move comes after a controversial one-off levy of up to almost 10% on savings in Cyprus was announced.

The money will be used for British personnel and their families if cash machines and debit cards stop working.

The tax is a condition for Cyprus to get a loan from the EU and IMF.

Cyprus needs a 10bn euro (£8.7bn; $13bn) bailout to rescue its banks.

Full article here [1]


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URL to article: http://www.prisonplanet.com/mod-flies-emergency-cash-to-cyprus-for-british-personnel.html

URLs in this post:

[1] BBC News: http://www.bbc.co.uk/news/uk-21847013

[2] Have The Russians Already Quietly Withdrawn All Their Cash From Cyprus?: http://www.prisonplanet.com/have-the-russians-already-quietly-withdrawn-all-their-cash-from-cyprus.html

[3] Meanwhile, Cash Exodus From Cyprus Surges Despite Bank Closures, Capital Controls: http://www.prisonplanet.com/meanwhile-cash-exodus-from-cyprus-surges-despite-bank-closures-capital-controls.html

[4] Cyprus considers zero tax on smaller bank deposits: http://www.prisonplanet.com/cyprus-considers-zero-tax-on-smaller-bank-deposits.html

[5] Cyprus ATMs Low On Cash, Credit Card Payments Refused; Medvedev Compares Europe To USSR: http://www.prisonplanet.com/cyprus-atms-low-on-cash-credit-card-payments-refused-medvedev-compares-europe-to-ussr.html

[6] Convoy Of Trucks Reportedly Hauling Tons Of Fresh Euros As Cyprus Banks Prepare To Reopen: http://www.prisonplanet.com/convoy-of-trucks-reportedly-hauling-tons-of-fresh-euros-as-cyprus-banks-prepare-to-reopen.html

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