“The IMF today took an unprecedented step to grab bank depositor money.   In a new plan to bailout the government of Cyprus, under the watchful eye of the IMF, depositors in Cypriot banks will be hit with a one-time tax on their savings, as part of a €10 billion ($12.96 billion) bailout.   In a deal, announced early Saturday, accounts with more than €100,000 will be taxed at 9.9%, those with less at 6.75%, raising an expected €5.8 billion for the near-bankrupt nation. Cypriot Finance Minister Michalis Sarris said the Cypriot Parliament would adopt the taxes over the weekend and the money would be extracted from accounts before banks take up business Tuesday.”

http://www.economicpolicyjournal.com/2013/03/extremely-disturbing-imf-goes-directly.html

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