Deposit Accounts in Cyprus hit with €5.8 Billion Levy

If you think our Property Tax is bad – wait until you hear what European finance ministers have done to savings accounts in Cyprus. The EU ministers have agreed a  €10 billion  bailout for the banks in Cyprus  which includes all Cypriot bank customers handing over at least 6.75% of their savings. Accounts with savings […]
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Euro Fears Escalate

Spanish recession fears continued to weigh heavily on the Euro following a rise in Spanish and Italian bond yields and a sharp deterioration in Eurozone investor confidence  yesterday. The euro was  inching back up again  today versus GBP – but traders say the currency has nothing to push it dramatically in either direction. The  Pound […]
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Sterling and Euro Weakening

Sterling is falling today (Thursday 10.30 am  ) after figures for the UK’s goods trade deficit reached  a record high in July. Britain’s total trade deficit, which includes services, also increased sharply to its highest level in nearly five years. The pound fell 0.5 per cent to $1.5399 against the dollar and was 0.4 per […]
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