Los Angeles Business Journal

Cyprus to Raid Personal Savings; Global Markets Upset

Monday, March 18, 2013

What's going on in the small Mediterranean nation of Cyprus could matter not just to the rest of Europe, but the rest of the world, Yahoo's Daily Ticker and the Wall Street Journal report. The decision to raise $7.6 billion from taxes on depositors, including individuals with small amounts in their accounts, risks a wider political fallout for the euro-zone leaders who are guiding the bloc's crisis strategy.