Is Cyprus the Banking Anomaly?
Mar 19th 2013 1:40PM
Updated Mar 19th 2013 1:46PM
This week, we saw the Cypriot banking system collapse and be bailed out by the E.U., with the unprecedented move that retail bankers be required to pay a percentage of their bank accounts in order to fund the bailout. News of this has since triggered a run on Cypriot banks -- and nervousness in neighboring European countries, whose banking systems have also struggled recently. Is this indicative of how banks are doing globally, or is it an anomaly?
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The article Is Cyprus the Banking Anomaly? originally appeared on Fool.com.David Hanson has no position in any stocks mentioned. Matt Koppenheffer owns shares of Bank of America. The Motley Fool recommends Wells Fargo. The Motley Fool owns shares of Bank of America, JPMorgan Chase, and Wells Fargo. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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