EU Bailout Tax Sparks Bank Run In Cyprus

NPR | March 19, 2013 7:08 a.m.

Contributed By:

Renee Montagne, Jim Zarroli

play
pause
stop
mute
unmute
max volume

repeat
repeat off

Update Required To play the media you will need to either update your browser to a recent version or update your Flash plugin.

Renee Montagne talks to NPR's Jim Zarroli about how citizens of Cyprus are reacting to the news that their government wants to allow the E.U. to take nearly 10 percent of their savings deposits in exchange for a $13 billion bailout. Banks are closed through Tuesday after worries over bank runs. Depositors stood in long lines to withdraw money over the weekend.