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Cyprus bailout to calm U.S. markets

A man uses an ATM machine of the Bank Of Cyprus on March 24, 2013 in Limassol, Cyprus.

Eurozone finance ministers reached a last minute deal to grant Cyprus a $13 billion bailout early this morning. Those with large deposits in Cypriot banks could be hit will a tax of 30 percent in order to help fund the bailout.

Richard DeKaser, economist with Wells Fargo, joins Marketplace's Mark Garrison to discuss the impact of Cyprus' bailout on the U.S. economy.

About the author

Mark Garrison is a reporter and substitute host for Marketplace, based in New York.

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