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Panicked Cyprus Stalls, Braces for Bank Run
Monday, March 18, 2013    
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Country considers levy of up to 15%

(NEWSER– Things are getting crazy in Cyprus, which has again postponed a vote that could levy a tax on bank depositors to fund the nation's bailout, the BBC reports, this time until tomorrow. Its effects, however, are already rippling through Europe, where stock markets and the euro have plummeted, and Cypriots were yanking their money from ATMs yesterday. The country has extended today's bank holiday through tomorrow, and the New York Timesnotes that many think that will be extended to Wednesday. Some fear a run on banks could hit Spain and Italy amid concerns the levy might not be limited to Cyprus.

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