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    Back to To the Point

    To the Point

    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.

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    By Warren Olney • May 12, 2014 • 1 min read

    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?

    The full episode

    2 of 3
    Cyprus and the Euro Crisis
    1. 0:00Obama Seeks to Reassure Israelis on First Day of Trip
    2. 7:49Will Cyprus Be the Financial Mouse that Roared?You’re reading this
    3. 43:27Wild Congressional Race in South Carolina
    • https://images.ctfassets.net/2658fe8gbo8o/AvYox6VuEgcxpd20Xo9d3/769bca4fbf97bf022190f4813812c1e2/new-default.jpg?h=250

      Warren Olney

      former KCRW broadcaster

    • https://images.ctfassets.net/2658fe8gbo8o/AvYox6VuEgcxpd20Xo9d3/769bca4fbf97bf022190f4813812c1e2/new-default.jpg?h=250

      Evan George

      Director of Content, News

    • KCRW placeholder

      Kerry Cavanaugh

      editorial writer at the Los Angeles Times

    • https://images.ctfassets.net/2658fe8gbo8o/AvYox6VuEgcxpd20Xo9d3/769bca4fbf97bf022190f4813812c1e2/new-default.jpg?h=250

      Gideon Brower

      Independent Producer

    • KCRW placeholder

      Stefanos Evripidou

      Cyprus Mail

    • KCRW placeholder

      Jack Ewing

      business reporter for the New York Times who covers the auto industry

    • KCRW placeholder

      Alexander Apostolides

      European University of Cyprus

      NewsNationalPolitics

    The full episode

    2 of 3
    Cyprus and the Euro Crisis
    1. 0:00Obama Seeks to Reassure Israelis on First Day of Trip
    2. 7:49Will Cyprus Be the Financial Mouse that Roared?You’re reading this
    3. 43:27Wild Congressional Race in South Carolina
    Back to To the Point