The Seattle Times

PETROS KARADJIAS / AP
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Monday, March 18, 2013

Cyprus proposes no charge on small account holders

A police officer stands by a banner protesting the European Union bailout plan outside of parliament before a meeting in capital Nicosia, Cyprus, Monday. German Chancellor Angela Merkel has been concerned that without safeguards, bailout money could be skimmed by Russian depositors in Cyprus, so a deposit tax was aimed at gleaning money from wealthy Russians' accounts.