amazon it goes nothing go to work around here it's all bad it was it he's the head of the central bank of cyprus they have a central bank done there in cyprus where they've got a bunch of squirrels of the hamster cage and that's the reserve well while he was helping decide what to do with cyprus you know bernanke he of course was keeping rates as they are and promising to continue with a quantitative easing.

amazon it goes not the go to work around here it's all bad it was it he's the head of the central bank of cyprus they have a central bank done there in cyprus and when they got a bunch of squirrels on the hamster cage and that's the reserve well while he was helping decide what to do with cyprus you know bernanke he of course was keeping rates as they are and promising to continue with the quantitative easing i.e. the theft and confiscation of american wealth and global wealth actually because whatever the u.s. federal reserve does impacts the rest of the world well it's a good point in that they're talking about taking people's money out of their bank accounts through wealth confiscation through thieving whereas bernanke he and other central banks have been involved in this already is called wanted to do. easing where they force interest rates down to zero in financial repression financial pression at zero percent interest rate gers or that's a wealth confiscation that so that the old will be the big money gets to free cash exactly and you know here's a tweet from the day that ben bernanke he w

cyprus's parliament will not need to approve today's deal with international lenders because the parliament has the necessary legislation to implement the bailout last week. on friday, the governor of the cyprus central bankarned political leaders that the country would face a disorderly bankruptcy unless they approved the bailout. >> all of the elements the central bank of cyprus contributed must be voted for immediately and as they are. two basic reasons for it first, saw a positive message is sent abroad which will help agreement soon with the troika. secondly, absolutely necessary the central bank of cyprus has the right legal tools to allow -- handle the crisis. >> richard wolff, can you respond? >> this is blackmail. this is basically the officials of the banks and political leaders going to be mass of people and saying to them, "this awful deal that makes you who have nothing to do the crisis and did not get any bailout pay the cost of the crisis and the bailout. you must do this because if you don't, we will do even more damage to you and your economy, so give us your deposits, give us your money, pay more taxes, suffer fewer social programs because if you don't, we will impose even worse on the."

bank or one of the commercial banks? the governor of the biggest commercial bank in cyprus, the bank of cyprus, not the central bank. -- >> this is the governor of the biggest central commercial bank. he is reported to be saying that the refinancing and restructuring plan that the bank of cyprus, which was to absorber much of the deposits of the bank, the one here behind me, that is to be wound up. he said the plan was concocted a long time ago, not in the last few days, not in consultation with the board of directors. he seems to be saying now that there is no place for him and his directors in the new bank. he says because so much money will be taken out of the accounts of depositors the bank, in any case, a logger belongs to the shareholders. this tapped into a much deeper concern here in cyprus. it is whether the bank of cyprus this and remain solvent. -- can absorb this and remain solvent. owns or theo liabilities, the biggest liabilities of the bank, the -- and i'mon euro 0.3 billion euro that they owe for the emergency cash flow they have been receiving. john, a question. will they stand up? >> two things happenin

cyprus has now. can they open the banks and will the european central bank provide liquidity for all of the withdrawalsf those banks open? >> frankly i do not think it would be a good idea to open the banks in cyprus before the situation is resolved. this would be like completing the blackmail and destroying the banking system in cyprus without having a resolution. what is required if we want to make progress is for the european governments to come and offer to cyprus a deal that is compatible with treaty that shows the solidarity upon which the european project is built. we see what the alternatives are. if european governments do not want to continue to keep the european project together, then they keep forcing governments, in this case the government in cyprus to look elsewhere. again, do we want europe -- talking to the russian government about getting financial assistance, to get out of the blackmail in europe. this is very peculiar. >> it sounds to me like the decision you would like to see is one that ends up bailing out russian depositors in the banking system. those who are not insured. is tha

of closure, cyprus' banks finally open for bills. outside most branches, private security guards were on duty to ensure law and order and soothe any frayed nerves. before sun rise at the central bank of cyprus, trucks were loaded up with cash, 6 -- $6.5 billion worth of fresh euro notes flown in from frankfurt and dispatched to banks across the island. this is a branch of a bank which will be closed entirely as part of the e.u. bailout deal. it is the worst of the so-called bad banks. only eight customers allowed at a time. if you have over $130 here, you're -- $130,000 here, you're probably going to lose most of it. one of them, in this 31-year-old. he came here with many questions for his bank manager. >> i feel like i've lost, it yes. i feel like, i mean, for sure. if you come here and you ask the bankers, they don't even know what's happening. you have this feeling of, you know, of going nowhere. >> i think it's a severe blow to the euro and it's extremely urn sent -- uncertain if there's not going to be an affect on other european countries and people with accounts over there. anybody with money above $100,000 investing in a country that is in trouble will be afraid and

so you know while panic was determine who is panic the head of the central bank of cyprus panic because nothing's going to work and that's why they're called panic goes on.

so you know while panic coast's was determined who is thomas goes to the head of the central bank of cyprus this panic because nothing going to work that's how the gold panic goes on amazon it goes nothing going to work around here.

s have been closed and that this isn't the case the official line from the central bank of cyprus is that a.t.m. sell a rating as per usual and people are able to withdraw their money so you are a foreigner living in cyprus and you are being just as affected as everybody else is that absolutely and for example there are about thirty one and a half thousand british people living in south this continent and we are working or are retired here and the majority counts here so we are just as affected by these proposed measures i will be just as that by these measures if they are indeed implemented in what way though. will it be affecting you because many would say look this is a a small price to pay in order to save not just your money but of course the banks there on the island. well this really remains to be seen because as you well know there was supposed to be a decision made about this levy today today was an quantity in cyprus but the bank holiday has been extended the two days events not reopen and to stay according to the latest reports and the house of representatives is going to

cyprus is unique situation. an in the capital city, more protests. in front of the central bank of cyprus. parliament including thousands of teenagers. >> they made the wrong choic choices. >> for cypriot, more unanswered question. how much will they seize from the uninsured account to fund the bail-out? will this lead the country deeper to recession? john? >> rich edison for us in cyprus. thank you so much. at home, the market shrugged at the crisis. the dow added 112 points closing to another new high. the s&p 500 is up 12. nasdaq gained 17. still ahead, au treaty with second amendment advocates crying foul. first, south africa is decades from apartheid. but the economic troubles remain. >> john: 13 south african soldiers part of a mult million national army died fighting rebels in a central african-american republic. the heavily vit sized intervention is one of the myriad problems facing the former home of apartheid. senior former affairs correspondent greg palkot has that story. >> reporter: south-kay the, the biggest economy in africa. gleaming downtown. stadium from the success 20681

bailout deal, the ecb has agreed to continue emergency liquidity assistance for the bank of cyprus through the cypriot central bank. so that form of bailout through the ecb is going to continue. i should also emphasize, larry, that we're continuing to see european monetary union really crumble before our eyes. one aspect of this bailout we haven't talked about yet is that a euro held in cyprus is now worth dramatically less than a euro held in germany, because of capital controls. you can't get euros out of cyprus. >> so is this -- wait, huge damage does this do to the euro? that's a very interesting point, ben. how much damage does to this do to the euro? >> i think it does serious damage. and i think the template they made last week, which they're trying to undo now, was sdas trous. that is hitting the insured depositors. >> you agree with that? >> yes. but the damage is not only to the euro, but to the economies in southern europe. so the recessions are getting dramatically deeper, and ben makes a great point that you've got two different values of the euro. if it's in cyprus, it's different than if it's i

barclays national bank of greece, rbs, credit agricole and pnb paribas were the hardest hit, three to 4% each. david: central bank of cyprus shocking europe, to confiscate, call it what it is, chunks of individual bank accounts to secure a rescue package from the e.u.. the news hit markets overseas very hard but at home the markets did take the news in stride. we'll look why that storm coming from europe could get even worse and what effect it could eventually have on stocks over here. of course particularly the banking stocks. sandra: plus apple trying to get you to keep buying their products, not the competition's, pushing a new ad campaign for the iphone after the debut of samsung's latest smartphone get all the buzz. the one with a bigger screen, expandable memory and high every resolution cameras, what is apple doing it fight off the competition? is it too late? david: we have a lot more to cover here in this hour. you don't want to move at all. first we'll tell you what drove the markets with today's data download. a sea of red as concerns over europe's debt crisis dragging all three sectors lower. nine out of ten s&

banks have been closed until thursday morning. today walt the governor of the central bank of cyprus presumely he will know saying it could be a run of ten percent of deposits on the cyprian banks. and that's cause for concern. i think the banks in cyprus make two fundamental mistakes. banking 101 is supposed to boil out. don't lose money you don't have and they did and don't ever mess with deposits because that really does effect the trust in the financial system. that said, i think that because this has become such a cause celeb it's not going to happen in spain or italy because this is a deterrent against those governments about diagnose anything against the depositors in those countries. >> rose: when the imf and others suggested this didn't they have some idea this might be the reaction? >> well the indications we have are the imf suggested a levee on the larger depositors, not on people who had deposits below 100,000. and that will be in keeping with standard practice in other situations. the deposit insurance is on the deposits below 100,000. the problem is the greeks bank don't have the kind of subordinated debt that you n

banks in cyprus. the central bank of cyprus says residents account for 63% of all the money in eye plus bacyprus .the rest of the world, including a lot of them from russia. now, as part of the bailout deal, cyprus has agreed to an international antimony laundering audit. not seeing any market reaction here in the united states so far. nor do we expect any direct economic implications here in the united states. from the cnn money newsroom in new york, i'm ali velshi. anncr: and many of the tornado's victims are... without homes tonight. girl: first, i saw it on cable. then i read about it online. i found out how to help. i downloaded the info. i spoke up... and told my friends... and they told their friends... and together, we made a difference. anncr: and tornado relief has been pouring in from... across the country. girl: we might be hundreds of miles apart... but because we're connected, it's like we're all neighbors. uh, charles couldn't make it. his single miles card blacked him out here and here. he should have used... the capital one venture card. he's coming to us from home. hey fellas...

cyprus central bank says every effort has been made to reopen the bank's branches. it was hoped that they could resume on tuesday. 48t has been delayed for hours. >> angry workers from the bank of cyprus, the violence biggest. their boss resign today, unhappy with plans for restructuring the bank. it had 11,000 employees. in response, an impromptu press conference by the governor of the country's central bank and the finance minister. to try to reassure -- >> the merger of bank of cyprus will give us a very strong bank. done all this, we would have thousand unemployed in the banking sector. all depositors under 100,000 euros are protected. >> the eu bailout deal for cyprus requires a massive restructuring. the things that used to drive economic growth here and provide thousands of jobs. that adjustment will be extremely painful and these people are only too aware of it. >> where is the growth going to come from? the growth will come from -- we have plenty of those. cyprus has the largest number of dairy well educated youth. >> the day-to-day struggle continues. the facts are stick -- the banks are still shut, day 11. this well-known store has not had a single customer all day.

the central bank confirms reports that savers at the bank of cyprus could lose 60% of their savings over 100,000 euros. they will convert 35% of them into shares. >> cypriots barely know what they'll wake up to next. savers at the bank of cyprus -- the latest news is not good. of deposits will convert to bank shares but they stand to lose more depending on how much is needed to prop up the bank's reserves. >> this haircut will create a viscious circle on our financial industry. >> the uncertainty worries many cypriots. the banks re-opened thursday after a forced closure of two weeks but cash withdrawals are limited to 300 euros a day. many wonder what fresh revelations tomorrow's newspapers will bring. >> joining us to help make sense of this is nathan morley. what more can you tell us abou tthe latest figures. >> they are pretty alarming as people try to make heads or tails of them. councils, hospitals, schools will be terrified with depositors. 37.5% ofe figure and holdings become shares and for all purposes, they are not worth the paper printed on. we make it up with 22.5% being set i

cyprus. >> absolutely. do you know what's amazing? do you know the name of the head of the central bank of cyprus? e central banker is hispanic. >> we should have had our audio ready with a rim shot on that too. >> there we go. >> when we come back, we'll talk about whether easter spending could see a haircut this year, get it, hare. results of what it says about the states of retail right after this. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. otherworldly things. but there are some things i've never seen before. this ge jet engine can understand 5,000 data samples per second. which is good for business. because planes use less fuel, spend less time on the ground and more time in the air. suddenly, faraway places don't seem so...far away. ♪ watch this -- alakazam! ♪ [ male announcer ] staples has always made getting office supplies easy. ♪ another laptop? don't ask. disappear! abracadabra! alakazam! [ male announcer ] and now we're making it easier to get everything for your business. and for my greatest trick! enough! [

of his dorm. >>> major bailout backlash in cyprus. protests erupting over the euro zone's bailout offer of $13 billion in exchange for bank account taxes. the governor of cyprus' centralxpects 10% of all deposits to be taken out when banks reopen thursday. in a russian energy company is looking to cash in on all the mess. they're offering to bail out cyprus in exchange for the rights to explore for natural gas there. >> brian: ton of natural gas down there. >> anna: don't even look at them. one week after mayor bloomberg lost his fight to ban big soda, now he wants to ban the display tobacco products in stores. business owners who have to keep tobacco products under the counter. this would make new york city the only city in the nation. >> brian: i think people would know when they walk into a store and know if they smoke or not. how many walk in and say, i think i'll start smoking today. >> anna: at the same time, the convenience of having it there, sometimes i don't think i really need gum or a candy bar and if it's right there, it's an impulse buy. >> steve: we're lucky laura ingraham joins us right now from our nation's capitol. how are you? >> when you go into a

a large amount arrive for one of the ecb's printing presses to the central bank of cyprus and headquarters country, throughout all last night and also this morning. we followed a couple of armored vehicles as they left headquarters today. and you could seat guards. they were armed, carrying bags of money. they looked to be refills for atms. remember, there were a couple of false starts. a lot of banks had been restocking at various times thinking, oh, we're going to open tomorrow, and then they didn't. we still see lines of three or four people. but its much, much calmer. >> michelle, thank you. again, that's the progress over just the first two hours since banks opened. today the markets have been reacting not only to that but it is the final trading day of the quarter. the dow about to finish with the best quarter since 2011. all major averages up 3% for the month of march. joining us right now is blackrock's global chief investment strategist. look at the gains we have made. 3% for the month. the dow is up by better than 10% so far. again, people trying to anticipate as you get to the e

of deal would be made and we know it has to be made by monday. at's the date by which the european confirmation that meet will central banks' drip-drip of funding to cyprus would cease. so what we think might happen, and as i say, we've had no confirmation of this yet, is that there will be a meeting dellation ads of the cyprus tomorrow, sunday. there will also be a meeting of the 17 finance ministers of the countries who make up the euro zone and some of them plight be quite hard to persuade. they've demanded all along that cyprus has to contribute something to this bailout. germany in particular has been sure cyprus contributes something to the bailout. angela merkel is facing an election next year and she knows the people who will decide the next government are beginning to lose patience with he southern european countries, who as far as they can see, seem to constantly need bailouts. a lot of work still needs to be word is that there is progress from nicosia and we will see a deal signed. >>> rebels in the central african republic have told jars they have entered the capital of beng wi. later reports suggest power has been cut off. joined now from do

of funding. been getting from the european central bank be transferred to the bank of cyprus so they. observing basically that's the link essentially meaning that back to our key will be shutting down and this will really be bad news for a lot of people who are working for that back and of course as you say we've seen massive public discontent ahead of the talks how will the people take the recent news. well first of all even taking a badly since of this news broke on it and we can already have a tis a paper taking this news very well we've already seen the staff and family members of loci bible one that is now is effectively going to be closed they've already been protesting into the streets and for the bill to be losing their jobs or so this our first reaction with the fact the bill many people here feel this kind of saving the banks is not actually serving the people of cyprus memo to the president of the country and so this is a deal that would be easier to the people of cyprus really be a reality but we see on the ground also a lot of frustration. and capital going for the moveme

up the bank of cyprus to this process, this process of resolution for which legislation was passed in the parliament here on friday that could relate to any ailing bank has chosen by the centralank governor here, it will require to be wound up. i wanted to keep bank of cyprus whole. it seems that is being thrown in as well. we do not have figures, we may not for some time. the deal centers on the bank of cyprus and the popular bank of cyprus. those are the top two biggest banks in cyprus. the focus has been particularly on a so-called of uninsured depositors, those with deposits above the key benchmark level of 100,000 heroes or $130,000. that would in effect mean that people with balances above that level will have their money frozen completely, until the assets and liabilities of the two banks have been worked out. the liabilities paid off, and whatever remains, that will come directly out of the bank accounts of those uninsured depositors. it is entirely feasible they will take an immense hit, anything from a 30%-40%, even more. in the meantime, they will not have any money at all. that is an extraordinary account -- a consequence, if consider the bank of cyprus holds one-

central bank's gold reserves. the governor of the island's central bank was confident a solution would be found. >> i expect there will be a program of support for cyprus until monday. >> as the politicians tried to come up with a last-to address you, the mood on the streets debt is to spur a panic. earlier in the day, police clashed with angry bank employees after rumors spread that the island's second-biggest lender was to be shut down. the central bank denied those reports. with atm's paying out 680 euros per person per day, cypriaots ae increasingly despondent. >> it is too late to salvage anything. we've lost our credibility as a financial center, and whatever the final plan of the government is today, the damage has already been done. >> and time is running out. the european central bank has given the government until monday to come up with a new plan, or it will pull the plug on support for the island's thanks. >> for the latest, we go now live to nicosia. we are hearing initial details about the so-called plan be to help save cyprus, but what is the government doing right now? it is being -- >> it is being discussed in parliament, but we're not

over two thirds majority will suggest another at least one free for all states central bank cost of the world against cyprus the banks us then shut until the earliest use the next week and the use now demanded that cyprus imposed the controls on all movements of money into and out of the banking system incidentally such controls would most likely be in breach of the u. last government calling market and that's the latest on the station souter's so the situation as you see still pretty bad but it's not as bad as the situation in houston texas where if you're really hungry because bankers have stolen all your money. this is the future for you hungry homeless man ticketed for digging through trash. a man in houston ran afoul of a law making it illegal to dig through trash seriously james kelly was hungry and looking for something to eat he tried to find it in the trash bin near houston city hall for that he was ticketed been charged with quote disturbing the contents of a garbage can in the downtown business district they did get a broker's license become a stockbroker make a million bucks you don't have to li

. >>> with a new wave of worry from cyprus, investors are looking to the fed for some answers. fed head ben bernanke is expected to announce central bankl keep monetary policy unchanged until at least the middle of next year. >>> cyprus is awaiting its next move after protest and rejected bank depositor bailout failed. >>> fedex, general mills will report before the bell. software maker adobe systems shot up in after hours trading. thanks to better than expected quarterly results. meanwhile, the company's tech chief, kevin lynch, has jumped ship to join apple as vp of technology. >>> elsewhere the "wall street journal" reports federal regulators are investigating microsoft kickbacks that bribed foreign officials in return for contracts. microsoft says it is committed to the highest ethical standards. >>> meanwhile, here's a head-scratcher. neiman marcus and two other retailers have agreed to settle complaints they marketed real fur clothing as fake. >>> yahoo! is in talks to buy a controlling stake in daily motion in what could be a $300 million deal. >>> speaking of video, a new study by motorola mobility claims that 41% of the conten

funds and of void a painful default the protesters are demanding that they had all the country's central bankers steps down they frustrated over the looming restructuring of cyprus as large as banks as part of a rescue plan a move or which could inevitably lead to layoffs the country's banks have been paralyzed for almost a week and the speculation is they want to reopen again and as our teaser tells us the reports people are preparing for the worst. all of this panic this negativity started of course on the announcement over the weekend from brussels that in order to get a ten billion euro bailout package cyprus will have to cough up about five point eight billion in the suggestion to impose. on the causes ninety one percent of cypriots according to a poll have been against. we've seen protests on the streets of people angry really at the e.u. . and specifically a germany they feel of the country has been cornered into a position where they really have no choice but to take a very hard decision now here's what some of the cypriots feel right now towards europe. well the mood here in nicosia cyprus remains rather negative it seems of the people feel that there was one after anoth

cyprus corporation tax. what happens then? >> larry, it's a bigger issue than that. because it's all about transparency. if the european central bank gets its hands on records in the republic ofittle stories and hidden basic constructs will all become transparent. it's all about uncovering billions of dollars in dirty money. >> how will they do that? what i'm asking is, haven't the banks shielded the russians from all this? russian parks goods there. they send them off to iran and syria and other rogue states. money has never been a problem. cyprus has never reported them. why start now? >> they are going to be under a lot of pressure. they'll be under the ecb gun and have to clean up their act. as an absolute spin-off from that, they are going to have to be more transparent. it's going to happen. they can't do that. cyprus is their last vestage of offshore financial centers. they are all signing contracts with the u.s. and uk and germany. the only alternative they have to go all the way to the far east to find an offshore financial center that will work for them. that is geographically undesirable. they need to get financial professionals just a couple of hundred miles away

bank. i mean, how disgusting is that? >> reporter: the first spark was unconfirmed cypriot broadcast reports about the liquidation of laiki bank. it's cyprus' second biggest bank and heavily dependent on emergency central bank funding. this morning europe's central bank said this emergency liquidity support would be pulled on monday in the absence of cyprus agreeing an e.u./i.m.f. deal. cyprus only joined the euro five years ago. then it was a wealthy nation on the receiving end of $5 billion euros of so-called safe haven for fleeing bankrupt greece. now having rejected the first deal where all depositors would lose their savings, today the politicians were trying to conjure a new deal based on levies on larger deposits, property sales, mortgaging gaps and pension fund cash reserves. >> i believe that the political parties will shoulder the necessary responsibility for the survival of the cypriot economy. >> reporter: by the evening, however, news firmed up about the plan to split likely banks and its staff marched on parliament in the first really tense protests in this country's crisis. this evening, the queues at the cash machines grew even longer as they ran dry. parliament also is considering capi

if they do not, the central bank will pull the plug on monday. the president of cyprus has flown to brussels to get a deal to avoid bankruptcy. before webe some time hear anything definitive about what is happening behind closed doors in brussels between the president and his team from cyprus. areeuropean central banks going on without a bailout in place and there is a threat to cut funding if there is one. which russian investors are among the foreign investors in the economy? there must be significant bank deposit losses. the program must tackle the problem at the root. sure that thee plan is in place without dipping cyprus into debt and on sustainability. cyprus has agreed to close down its second-biggest bank, but once to hold on to the biggest. perhaps the biggest problem is the imf and germany, but to be fair they said no, they want to close the bank, even if it means thousands of job losses. >> the syrian forces are reported to have been firing at each other in the highest. the cat -- an informant captured, missiles with ammunition from the base being taken. it i

cyprus. things are already happening. we know the central bank has named an administrator for the lockheed bank. we have just got notice that lockheed and think of cyprus will remain closed for two days and remain open on thursday. that gives them two days to try to get ready for whatever happens next. we note with lockheed that will be the end of their business. >> ok. at the end of their business. her banking sector is effectively dismantled. facing years of austerity. what has been the public reaction? >> the public are just getting used to the idea, now, i think. as the situation is being explained to them, there is extreme anger about the banks and the state of the banks and the fact that lots of people did not know how bad it was. they passed the stress test, believe it or not in 2011. the european central bank gave them the green light. so, people are stunned by the fact that there is such an unhealthy state. >> a lot of questions to be answered. thank you very much. >> cyprus has been saved from bankruptcy, but ultimately the eurozone may be the biggest loser. >> europe's north and south are having a lot of difficulties understanding eac

cyprus. things are already happening. we know the central bank has named an administrator for the lockheed bank. we have just got notice that lockheed and think of cyprus will remain closed for two days and remain open on thursday. that gives them two days to try to get ready for whatever happens next. we note with lockheed that will be the end of their business. >> ok. at the end of their business. her banking sector is effectively dismantled. facing years of austerity. what has been the public reaction? >> the public are just getting used to the idea, now, i think. as the situation is being explained to them, there is extreme anger about the banks and the state of the banks and the fact that lots of people did not know how bad it was. they passed the stress test, believe it or not in 2011. the european central bank gave them the green light. so, people are stunned by the fact that there is such an unhealthy state. >> a lot of questions to be answered. thank you very much. >> cyprus has been saved from bankruptcy, but ultimately the eurozone may be the biggest loser. >> europe's north and south are having a lot of difficulties understanding eac

of the week. gerri: separates get the bailout. the market's comedown, bulru ♪ gerri: breaking news. the cyprus central bankuncing that all banks will remain closed until thursday. reversing an earlier decision to open most of the banks tomorrow. we may be joined later to talk about that. now, the central bank says the decision is being taken to ensure the smooth functioning of the wle banking system. probably any function in all. what kind of precedent as cyprus said? take a look at this video. you can see a preview of things to come. bank account holders protesting in the streets of this tiny island nation. the government moves to step in and take people's money. that keeps the banks and government operating. stocks in our markets dropping as the euro group president this drives the blueprint, as in the my want to do it again. investors say bad idea. stocks tanked as much as 113 points on that news. noigger than yellowstone national park. the population of the island nation is about the size of dallas, influence in international markets and pounding your retirement. one of the dynamics at work, the well-k

of cyprus as well. ceo of the bank of cyprus -- this is not the central bank, it's the country's biggest bank, the so-called- has been fired. this after the country has decided to appoint a special administrator to run the institution, and it follows the chairman's resignation tuesday. a u.s. treasury official, meanwhi meanwhile, saying it's too soon to draw conclusions about financial stability from the cypriot bailout or bail-in, if you will. dick berner, former morgan stanley head economist, says it's still early days when he spoke at nyu tuesday, says europe has long been identified as a threat to u.s. financial stability. and as we sort through this, denmark is to undertake a review of its banking legislation after the cypriot bail-in. the failure of denmark's own american bank back in 2011 was actually the first in the eu to see senior creditors absorb losses, but now danish officials say it would be difficult to find an alternative to a state-led rescue if one of the country's top six banks were to fail. jared, the point here being -- and by the way, this move in denmark endorsed by the imf. so, wiar