Ouch!!
People in Cyprus have reacted with shock to news of a one-off levy of up to 10% on savings as part of a 10bn-euro (£8.7bn; $13bn) bailout agreed in Brussels.
Savers could be seen queuing at cash machines amid resentment at the charge.
The deal reached with euro partners and the IMF marks a radical departure from previous international aid packages.
President Nicos Anastasiades defended it as a "painful" step, taken to avoid a disorderly bankruptcy. It had, he said in a statement, been a choice between the "catastrophic scenario of disorderly bankruptcy or the scenario of a painful but controlled management of the crisis".
| Did his savings account get whacked for the 10%, or did he have advance notice and conveniently move his money to the Caymans? |
The Cypriot leader, who was elected last month on a promise to tackle the country's debt crisis, will address the nation on Sunday. |