Cyprus sees a run on its banks

Cyprus sees a run on its banks
Cyprus sees a run on its banks

Cyprus sees a run on its banks

The tiny island of Cyprus experienced severe economic turmoil this weekend when its prime minster agreed to force a tax on all bank deposits in order to receive a bailout. The prospect of the tax set off a major dash to ATMs across the country and has rattled global financial markets. Endy Zemenides, executive director of the Hellenic American Leadership Council, tells Worldview why the latest Eurozone crisis has far-reaching consequences, even for Greek-Americans here in Chicago.