Cypriots and foreigners wait in line to withdraw money from an ATM of a Laiki bank branch in the center of the capital, Nicosia, on March 21, 2013. - 

European markets are lower this morning on the news that Cyprus has until Monday to come up with a new bailout package. The European Central Bank says it will cut off emergency lending to the nation's bank if there's no deal.

Diane Swonk, chief economist with Mesirow Financial, joins Marketplace Morning Report host Jeremy Hobson to discuss how the situation in Cyprus could affect the global economy.