Confidence In Cyprus Banks Falters As Government Proposes Deposit Tax
By Jim Zarroli • Mar 18, 2013
Originally published on March 18, 2013 3:54 pm
Cyprus is facing a run on its banks after the government proposed taxing bank deposits. The government has put off a vote on the plan in a bid to calm things down. Banks are set to re-open on Thursday after a bank holiday was declared on Monday.