PBS NewsHour

In Cyprus, a Tax on Savings Accounts Causes Banking Crisis

Clip: Season 2013 | 2m 38s

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.

Aired: 03/18/13

Expired: 04/17/13

Rating: NR

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