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.
Odds were pretty high some kind of deal on Cyprus was going to get worked out this weekend. But, economic life in Cyprus will likely get worse before it gets better.
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.