While you were sleeping Stocks drop on Cyprus levy

Mon, 18 Mar 2013

By Margreet Dietz March 19 (BusinessDesk) - A plan to tax Cypriots' bank accounts to help fund a bailout for the debt-laden euro zone country weighed on financial markets on both sides of the Atlantic, a poignant reminder of the ongoing risks the European crisis poses to the economy worldwide. Cyprus lawmakers will vote as early as Tuesday on a proposal to use bank deposits of Cypriots to pay for a financial rescue needed to avoid the nation's bankruptcy. However, after initial details released on the weekend triggered protests, the burden on...

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