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Cyprus to tax private savings accounts

23 March 2013 by

Supporters of the extreme-right Golden Dawn party hold flares as they chant the national anthem, during a rally over the crisis in Cyprus, outside the German embassy in Athens March 22, 2013. REUTERS-John Kolesidis

(Reuters) – Cyprus said on Saturday it would tax big savers at its largest bank in a dramatic U-turn as it raced to satisfy European partners and seal an 11th-hour bailout deal to avert financial collapse.

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