LONDON (Reuters) - European shares were expected to fall sharply on Monday, with Cyprus' plan to tax depositors rattling investors who are concerned that the move, if passed, could set a precedent for future euro zone bailouts.
Breaking with previous EU practice that depositors' savings are sacrosanct, Cyprus and international lenders agreed at the weekend that savers in the island's outsized banking system would take a hit in return for the offer of 10 billion euros (8 billion pounds) in aid.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
