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The deal we posted about Sunday evening — a $13 billion bailout by international creditors for the beleaguered banking system on Cyprus — is being met with skepticism on that Mediterranean island nation.
On Morning Edition, correspondent Joanna Kakissis reported from Nicosia that some Cypriots fear the world they've come to know is coming to an end. Encouraged to build their banking sector into an international haven for foreign investment, Cypriots are now watching as the island's second-largest bank — Laiki — is being restructured and as large depositors are seeing their investments shrivel because of the taxes they'll now have to pay.