A sign in a shop window explains that they will only accept cash payments on March 25, 2013 in Nicosia, Cyprus.
A sign in a shop window explains that they will only accept cash payments on March 25, 2013 in Nicosia, Cyprus. - 
Listen To The Story
Marketplace

Banks in Cyprus are now on lockdown until Thursday. Most were supposed to reopen today following a new bailout deal that could tax large depositors by as much as 40 percent. But fears of bank runs are keeping doors shut. Cypriots are able to withdraw up to $130 a day from ATM's, as ordered by the country's central bank.

The BBC's Nigel Cassidy in Cyprus joins Marketplace's Mark Garrison to discuss how Cypriots are reacting to the shutdown and how the country plans to reopen its banks without risking a massive capital flight.

“I think the best compliment I can give is not to say how much your programs have taught me (a ton), but how much Marketplace has motivated me to go out and teach myself.” – Michael in Arlington, VA

As a nonprofit news organization, what matters to us is the same thing that matters to you: being a source for trustworthy, independent news that makes people smarter about business and the economy. So if Marketplace has helped you understand the economy better, make more informed financial decisions or just encouraged you to think differently, we’re asking you to give a little something back.

Become a Marketplace Investor today – in whatever amount is right for you – and keep public service journalism strong. We’re grateful for your support.