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    The EU has ordered Cyprus, an EU member state, to confiscate savings from all holders of a bank account.

    Everyone with savings will see 6.7% confiscated by the state, but those with at least 100, 000 euro in the bank will lose 9.9%.

    It has started, the EU is confiscating savers' money.

    http://news.sky.com/story/1065567/cyprus-bailout-savers-lose-money-in-eu-deal

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