World

Cyprus' Bank Deposit Tax Would Hit Russian Wallets

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

Contributed By:

Corey Flintoff, NPR People: Robert Siegel

Robert Siegel talks to Corey Flintoff about reaction in Russia to a European Union plan to seize close to 10 percent of large deposits in Cypriot banks and close to 7 percent of all other deposits. Many Russian oligarchs park their money in banks in Cyprus because of the favorable terms and banking regulations there.

Comments

blog comments powered by Disqus
Thanks to our Sponsors:
become a sponsor
Thanks to our Sponsors
become a sponsor