British government STOPS pension payments to expats in Cyprus so government won't seize tax for EU bailout

Pension payments to Britons living in Cyprus are being suspended amid growing uncertainty on the island due to an unprecedented raid on bank accounts.

The payments will not be made until the country's parliament votes on the controversial levy on bank deposits, proposed as part of a £8.6billion bailout by the European Union and IMF. Treasury Minister Greg Clark said payments had been frozen today to ensure money from the Government reaches its intended recipient.

Stock markets across Europe and Asia also felt the effect of growing economic uncertainty due to the heavily criticised bailout package.

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Suppose they'll stop the Army salaries going in too. Every foreign country will pull their money from Cyprus. What a cock-up.