George Osborne pledges to protect UK troops from Cyprus bank levy

Mr Osborne described the Cypriot bail-out as an "extraordinary" situation, but he pledged that British armed forces personnel and Government staff serving on the island will be protected from the bank levy.

"It?s a difficult situation for people who live in Cyprus," Mr Osborne told the BBC's Andrew Marr Show.

"For people serving in our military and our government out in Cyprus, we are going to compensate anyone affected by this bank tax - people who are doing their duty for our country in Cyprus will be protected from this Cypriot bank tax."

The decision to impose the one-time levy of 6.75 per cent on all deposits under ?100,000 and 9.9 per cent over that amount, has triggered scorn from Cypriot politicians who condemned it as unfair, bringing in doubt its approval in parliament.

Source: http://telegraph.feedsportal.com/c/32726/f/568301/s/29a9a945/l/0L0Stelegraph0O0Cnews0Cworldnews0Ceurope0Ccyprus0C99357690CGeorge0EOsborne0Epledges0Eto0Eprotect0EUK0Etroops0Efrom0ECyprus0Ebank0Elevy0Bhtml/story01.htm

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