Cyprus' Bank Deposit Tax Would Hit Russian Wallets
By: Corey Flintoff and NPR People: Robert Siegel
March 18, 2013
Robert Siegel talks to Corey Flintoff about reaction in Russia to a European Union plan to seize close to 10 percent of large deposits in Cypriot banks and close to 7 percent of all other deposits. Many Russian oligarchs park their money in banks in Cyprus because of the favorable terms and banking regulations there.
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