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PBS NEWSHOUR

In Cyprus, a Tax on Savings Accounts Causes Banking Crisis

  • Aired: 03/18/2013
  • 02:38
  • Expires: 04/17/2013
  • Rating: E
The small island of Cyprus is facing a crippling banking crisis. A tax on savings account has caused the country to file for a bailout. Citizens saw a 6-9% decrease in their individual savings accounts.This has sparked protests and outrage from residents. For more, Emma Murphy of Independent Television News reports from Nicosia.
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