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 (ÂŁ8.7bn; $13bn) bailout to rescue its banks.
This article was posted: Tuesday, March 19, 2013 at 11:43 am