The latest statistics show Greece and Spain with the highest unemployment rates in the eurozone, both at more than 26 percent. For young Greeks, the numbers are much worse: Nearly 60 percent of people under 25 are out of work, a figure that is expected to rise.
These aren't just numbers for 24-year-old Marios Kyriakou, who was recently sipping a sweet espresso freddo at an arty cafe in his neighborhood. He says he's even had to cut back on that small pleasure.
On the second day since Cyprus reopened its banks, depositors continue to face restrictions on getting at their money. ATM withdrawals are limited to 300 euros a day, and there are limits on how much cash travelers can take abroad.
Banks in Cyprus reopened Thursday morning â€” after two weeks in which they had to keep their doors closed as European leaders worked out a bailout deal for the island's struggling financial sector in a bid to keep its problems from triggering similar crises in other ailing EU nations.
Originally published on Thu March 28, 2013 7:48 am
One day, the legislature in the state where you live passes a new law: Until further notice, you're not allowed to take your money to another state.
There are exceptions. You can take a few thousand dollars with you if you go on a trip. You can do some out-of-state shopping on your credit card, but not too much. Beyond that, all your money â€” your checking account, your savings account, the cash you buried in your backyard â€” has to stay in your state. You're free to leave the state, as long as you don't take your money with you.