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Be touching our savings accounts, but what about in europe? does this lead to a potential run on the banks in other countries people are worried their governments are going to do the same things to them? >> europeans, all europeans with the exception of the germans should be very concerned about what is happening right now with the european union. and the european centr run by mario draghi. he and wolfgang shoval got into an argument a month ago and declared that the german finance minister declared that cyprus was a systemic irrelevantsy and they're saying differently today. >> megyn: the eu ...

Sang and shanghai lose 1.7% or more. american investors have been bullish as we all know lately. and it's going to take more than that to turn this around. make no mistake this is a big deal for residents of cyprus with money in the banks. this is like the monster of all fees. basically banks holding your money hostage. cyprus citizens who have $129,000 in the bank could have almost $9,000 taken out if they're indeed taxed at 6.75%. unlike greece they're not going to be seeing things like wages and pensions cut. so if this does happen in cyprus, it's going to be sort of quick and painful one-t...

Deposits for bank accounts that have more than 100,000 euros in ha their accounts. 6.75% with all accounts for less than 100,000 euros. the euro group president explains why. >> translator: the reason why this package including this levy has been chosen has to do with the specific characteristics of the problems and the banking sector in cyprus, which is as you know more than five times the size of gdp if you would include the greek branches more than seven times. >> so the banking sector is much big than the entire economy. in sx shank fexchange, cyprus w the bailout that it needs. that cause...

The lowest, rather, labor force participation since the 1980's, mark, you know that. the jobless rate is decreasing because people are leaving the work force. economic growth the rising tide that lifts all boats in our country .1% increase average. you need 2% to even keep up with inflation. >> megyn: you mention, i mean, you talk about what's happening in cyprus and for the viewers who didn't watch this in the last hour, the government of cyprus has now okayed the theft, that's the word i would use, the theft by the government of people's private savings accounts and taking 10% of those with ...

Street finished today's trading session. it was a volatile trading day and the dow jones managed to gain 27 points. the s&p gained just under 2 points on the trading session. and the nasdaq with a drag from face boonk to the downside finished down 6.75 points. that's it from cnbc. we are first in business worldwide. martin is back after a quick break. [ male announcer ] this is joe woods' first day of work. and his new boss told him two things -- cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant...