Here's The Brand New Revised Plan In Cyprus To Tax All Bank Accounts

On Saturday morning, Cyprus and the EU announced a plan to tax depositors' bank accounts at 6.5 percent up to 100K eur and 9.9 percent over that.

The idea of taxing anyone's bank accounts is incredibly controversial, but the hit on those with less than 100K was the biggest shocker, since bank accounts are insured up to that level (Cyprus gets away with it legally, by calling it a "tax" and not a haircut).

But the outcry has been so loud, that the country is busily working to revise the schedule.

The incomparable Matina Stevis has the current planned tax schedule, which is being discussed today.