World | Economy | Business

EU Bailout Tax Sparks Bank Run In Cyprus

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

Contributed By:

Renee Montagne, Jim Zarroli

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.

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