FCO warns Britons travelling to Cyprus over banking crisis
The British Foreign Office has warned tourists travelling to Cyprus to take pounds and euros in addition to credit and debit cards as fears grow the banking crisis within the country will mean they can’t access money. The Cypriot government announced plans for a savings levy in a bid to offer protection to its banking sector over the weekend. The £8.6 billion bailout agreed by the european and IMF demands all bank customers pay a one-off levy and has caused heavy cash withdrawals. The levy shouldn’t take effect until Tuesday but action was taken to govern electronic money transfers over the weekend. If the deal is defeated, state media say banks may be closed on Tuesday if you want to avoid mass withdrawals.