Did a Legalised Bank Robbery Just Go Down?

Cyprusâ?? deposit grab sets a bad precedent. Money had to be found to prevent its financial system collapsing. But imposing a 6.75 percent tax on insured deposits â?? or even the 3 percent being discussed on Monday morning â?? is a type of legalised bank robbery. Cyprus should instead impose a bigger tax on uninsured deposits and not touch small savers.