Mon March 18, 2013
E.U. Bailout Tax Causes Bank Run In Cyprus
Originally published on Tue March 19, 2013 10:08 am
Citizens of Cyprus did not react well to the news that their government wants to allow the European Union 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.