Shows & Panels
- The 2014 Big Picture on Cyber Security
- AFCEA Answers
- Ask the CIO
- Connected Government
- Consolidating Mission-critical Systems
- Constituent Servicing
- Continuous Monitoring: Tools and Techniques for Trustworthy Government IT
- The Data Privacy Imperative: Safeguarding Sensitive Data
- Eliminating the Pitfalls: Steps to Virtualization in Government
- Federal Executive Forum
- Federal Tech Talk
- Government Cloud Brokerage: Who, What, When, Where, Why?
- Government Mobility
- Mission-critical Apps in the Cloud
- Mobile Device Management
- The Modern Federal Threat Landscape
- The Path from Legacy Systems
- Understanding the Intersection of Customer Service and Security in the Cloud
Shows & Panels
UK: We will compensate troops hit by Cyprus levy
Sunday - 3/17/2013, 3:30pm EDT
LONDON (AP) -- Britain's Treasury chief says the government will compensate U.K. troops who lose money to Cyprus's bailout tax.
About 3,500 British military personnel are based in Cyprus, which has announced a levy of 6.75 to 9.9 percent on all bank balances as part of a deal with creditors for EUR10 billion ($13 billion) in rescue money.
The announcement sent Cypriot depositors rushing to ATM machines to drain their accounts.
British Chancellor of the Exchequer George Osborne said Sunday that the government would compensate troops and civil servants affected by the bank levy. He said "anyone doing their duty for our country in Cyprus will be protected."
But those among the 59,000 British residents of Cyprus not working for the U.K. military or government could still be out of pocket.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.