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Marketplace
Mid-day Update

PODCAST: Cyprus tax, gambling tacks

Jeremy Hobson Mar 18, 2013
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Financial markets in Asia and Europe fell sharply today thanks to the unusual terms of the EU bailout of Cyprus. A tax of up to 10 percent on bank deposits in Cyprus was proposed to defray some of the cost of the bailout. The plan is likely to be softened before the Cypriot parliament votes on the package tomorrow. But, has damage already been done?

Though the levy on deposits is unusual method, there’s no mystery why it is being imposed on bank accounts in Cyprus. The Germans in particular insisted on it. They believe that large amounts of cash in the Cypriot banking system belong to Russian money launderers, and that it’s only right that they too should bear some of the cost of the bailout.

As states legalize online gambling, how does a casino hold on to customers? At the Borgata in Atlantic City, you can leave the casino floor and play the slots on a TV in your room.

If you’re a member of your local public radio station, we thank you — because your support helps those stations keep programs like Marketplace on the air.  But for Marketplace to continue to grow, we need additional investment from those who care most about what we do: superfans like you.

Your donation — as little as $5 — helps us create more content that matters to you and your community, and to reach more people where they are – whether that’s radio, podcasts or online.

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