Gerry Hadden

Gerry Hadden

Gerry Hadden reports for The World from Europe. Based in Spain, Hadden's assignments have sent him to the northernmost village in Norway to the southern tip of Italy, and just about everywhere else in between.

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Need for Cyprus Financial Bailout Sparks Protests, Concern in Europe

March 18, 2013 ⋅ Post a comment
Demonstrators hold an anti-bailout rally outside the parliament in Nicosia, Cyprus. (Photo: REUTERS/Yorgos Karahalis)

Demonstrators hold an anti-bailout rally outside the parliament in Nicosia, Cyprus. (Photo: REUTERS/Yorgos Karahalis)

Cyprus, like its Mediterranean neighbor Greece, needs a financial bailout.

But a plan by the European Union to partially pay for the bailout with a tax of up to 10 percent on customers’ bank deposits sparked protests and a run on ATMs in Cyprus.

And that’s got the rest of Europe worried about contagion. The World’s Gerry Hadden has the latest.




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