ATMs drained as bailout tax triggers run on bank deposits…(Coming To A City Near You!)

Monday, March 18, 2013
By Paul Martin

Nicholas Kulish
TheAge.com.au
March 18, 2013

In a move that could set off new fears of contagion across the eurozone, anxious depositors drained cash from ATMs in Cyprus on Saturday, hours after European officials in Brussels required that part of a new €10 billion ($12.6 billion) bailout must be paid for directly from the bank accounts of savers.

The move – a first in the three-year-old European financial crisis – raised questions over whether bank runs could be set off elsewhere.

The Rest…HERE

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