Confidence In Cyprus Banks Falters As Government Proposes Deposit Tax

NPR | March 18, 2013 2:54 p.m.

Contributed By:

Jim Zarroli

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Cyprus is facing a run on its banks after the government proposed taxing bank deposits. The government has put off a vote on the plan in a bid to calm things down. Banks are set to re-open on Thursday after a bank holiday was declared on Monday.

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