Cyprus and the Euro Crisis
Listen to/Watch entire show:
Financial trouble in tiny Cyprus is the latest threat to the entire Eurozone. With their banks in danger, should ordinary Cypriots be taxed to protect wealthy Russians? Would that precedent lead to a run on banks with problems in other countries? We untangle these and other questions. Also, President Obama seeks to reassure Israelis on the first day of his trip, and an unlikely political comeback in South Carolina.
Banner image: People are reflected at a glass door of a closed branch of Bank of Cyprus in Nicosia March 19, 2013. Photo by Yorgos Karahalis/Reuters
Obama Seeks to Reassure Israelis on First Day of Trip ()
President Obama is in Jerusalem, his first stop before going to Ramallah and Jordan. He made a public appearance today with Israeli President Shimon Peres. Joel Greenberg is Jerusalem correspondent for the Washington Post.
- Joel Greenberg: Washington Post
Will Cyprus Be the Financial Mouse that Roared? ()
The island nation of Cyprus has 1.1 million people — but it's becoming a threat to the entire Eurozone, which is 317 times larger. It's all about banks structured as tax shelters, often for wealthy Russians, banks now in so much trouble they've asked for a bailout. But when Eurozone leaders proposed to tax every depositor – not just the wealthy, ordinary Cypriots took to the streets, emptying ATMs and forcing parliament to reject the deal. What about depositors in Greece and other troubled countries? Will they lose faith in their own banks and their confidence in the Euro?
- Stefanos Evripidou: Cyprus Mail, @cyprusmail
- Jack Ewing: New York Times and International Herald Tribune, @JackEwingIHT
- Alexander Apostolides: European University of Cyprus
- Uri Dadush: Carnegie Endowment for International Peace
Wild Congressional Race in South Carolina ()
Remember the South Carolina Governor who disappeared for six days, supposedly hiking the Appalachian Trail, though he was really in Argentina pursuing a mistress. Well, Mark Sanford's back in what might offer Democrats a win in one of the reddest states in the US. One of 16 Republicans in a primary for the state's First Congressional District, which became vacant when incumbent Tim Scott was appointed to the US Senate, he won 37 percent of yesterday's vote. Now, he'll be in a runoff against Elizabeth Colbert Busch, sister of comedian Steven Colbert. Scott Huffmon is Professor of Political Science at Winthrop University in Rock Hill.
Engage & Discuss
BROUGHT TO YOU BY