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EU Bailout Tax Sparks Bank Run In Cyprus

by Renee Montagne, NPR
March 18, 2013

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.

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  • Morning Edition, March 18, 2013
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