http://www.euronews.com/ Cypriot savers have been queuing at cash machines – after waking up to the news that Brussels plans to enforce a levy of up to 10 percent on bank deposits as part of a bailout deal.

The Eurogroup and the International Monetary Fund (IMF) agreed a 10 billion euro rescue package for Cyprus, which is teetering on the edge of bankruptcy, late on March 15.

The deal includes a one-off levy on Cypriot bank deposits to raise 6 billion euros.

German Chancellor Angela Merkel, at the helm of the EU’s largest economy, explained why the radical measure makes sense:

“So we said: people who have their money in Cyprus’ banks have to contribute to saving Cyprus. So everyone who has more than 100,000 euros in his or her account will be taxed by almost 10 percent, by 9.9 percent.”

Merkel added, “In so doing, the people responsible will contribute – not only tax payers from other countries. And that is correct in my opinion.”

There will also be a tax of 6.75 percent on smaller deposits.

The levy’s due to take effect on March 19, although the deal still has to be approved by the parliaments of several eurozone nations, including Cyprus.

The island nation, which has one of Europe’s smallest economies, is the fifth country to turn to the eurozone for aid during the region’s debt crisis. It follows Greece, Ireland, Portugal and Spain.

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Turkey-Libya maritime boundaries deal ‘remains null and void,’ Greek foreign minister says

The joint statement responded to the recent decision by Libya’s House of Representatives to ratify the 2019 memorandum.

READ MORE : http://www.euronews.com/2026/10/26/turkey-libya-maritime-boundaries-deal-remains-null-and-void-greek-foreign-minister-says

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Mongolia positions itself as Asia’s next data centre hub

During the COP17 conference in Ulaanbaatar, Mongolia offered potential data centre investors tax relief, data security, cheap energy, land, and cold weather.

READ MORE : http://www.euronews.com/2026/08/25/mongolia-positions-itself-as-asias-next-data-centre-hub

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Norway’s Foreign Minister Espen Barth Eide tells #EuropeToday that Netanyahu’s government has driven Israel into a “very dangerous place”.

It comes as Norway joined this week 11 other countries, including UK and France, in sanctioning trade with Israeli settlements in the occupied West Bank.

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Football: Mbappé apologises for ‘ill-judged’ joke about China’s Mao Zedong that led several brands to drop him

The decision came after the clip spread on social media across China, where jokes about Mao, who died in 1976, are seen as disrespectful.

READ MORE : http://www.euronews.com/2026/10/27/football-chinese-sponsors-drop-mbappe-over-mao-zedong-joke

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