First race of the F1 season, the Australian Grand Prix at 8 a.m. Cyprus time. No luck in getting a televised version but it is covered by BBC 5 radio, which we get through the British forces. The Sunday papers full of the bank levy, of course. Seems like a pretty crude mechanism, and pretty hard lines that depositors with under EURO 100,000 would have been covered by deposit insurance had the banks failed, but as they have been the means of preventing the failure they're not covered. The rewards, of course, go to spenders rather than savers, as money is the only asset to be taxed. And, as one Cypriot man says sadly of his savings - "It's one working life, that."
Maggi's birthday, so she comes to supper. As she's now a Cyprus resident she has a Cypriot banking account which will be affected. Parliament was to have meet today as the levy must be ratified before it can take effect but that has now been postponed til tomorrow, presumably in an attempt to shore up a majority.
Maggi's birthday, so she comes to supper. As she's now a Cyprus resident she has a Cypriot banking account which will be affected. Parliament was to have meet today as the levy must be ratified before it can take effect but that has now been postponed til tomorrow, presumably in an attempt to shore up a majority.