Cyprus guards itself against a bank run
A man sits in front of empty ATMs outside the National Bank of Cyprus, which has been closed for two weeks on March 26, 2013 in Nicosia, Cyprus.
The Euro has hit a four month low this morning against the dollar as we wait for the banks in Cyprus to open tomorrow for the first time in almost two weeks. Big depositors will face losses of almost 40 percent -- and that might make them ready to move their money elsewhere for the future.
Julia Coronado, chief economist with the investment bank BNP Paribas, joins Marketplace Morning Report host Jeremy Hobson to explain how Cyprus is guarding itself against a bank run.