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Published: Saturday 07 September, 2013

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In this image taken Saturday, March 16, 2013, people queue to use an ATM machine outside of Bank of Cyprus branch in southern port city of Limassol, Saturday, March 16, 2013. Many rushed to cooperative banks which are open Saturdays in Cyprus after learning that the terms of a bailout deal that the cashstrapped country hammered out with international lenders includes a onetime levy on bank deposits. The move, decided in an extraordinary meeting of the finance ministers of the 17nation eurozone in the early hours Saturday, is a major departure from established policies. Analysts have warned that making depositors take a hit threatens to undermine investors confidence in other weaker eurozone economies and might possibly lead to bank runs. AP Photo/Pavlos VrionidesCredit: AP



BANGKOK AP Asian stock markets and the euro tumbled Monday as a plan to fund a bailout for Cyprus by taxing its bank deposits raised worries it could spark an exodus of capital from fragile European economies.



The tax is part of a rescue plan for cashstrapped Cyprus that was reached Saturday after talks among officials from countries that use the euro, the International Monetary Fund and the European Central Bank.



Japan Nikkei 225 index slid 2 percent to 12,312.53. Export shares slid as the yen strengthened against the dollar and the euro.



Hong Kong Hang Seng dropped 2.1 percent to 22,057.07. South Korea Kospi shed 0.6 percent to 1,974.32. Australia S 200 fell 2 percent to 5,015.60. Benchmarks in Singapore, Taiwan, mainland China and the Philippines also fell.



The Cypriot bailout follows those for Greece, Portugal, Ireland and Spanish banks, and it is the first one that dips into people savings to finance a bailout. Analysts worry the move could roil international markets and jeopardize Europe fragile economies.



market is worried that it may send the wrong message on the safety of bank deposits in other EU nations, just when light appeared to be emerging at the end of the long tunnel for the peripheral nations, analysts at DBS Bank Ltd. in Singapore said in a market commentary.



In a nationally televised speech Sunday, Cypriot President Nicos Anastasiades urged lawmakers to approve the tax, saying it is ess women online clothes ential to save the country from bankruptcy. He also proposed women online clothes that small depositors be exempt from paying the tax. Lawmakers are due to vote on the plan later Monday. If Parliament rejects the tax, that would put the entire rescue package in jeopardy.



In exchange for 10 billion euros $13 billion in rescue money, creditors would impose a onetime tax of 6.75 percent on all bank deposits under 100,000 euros $131,000 and 9.9 percent over that amount. housing data for February later in the week to rejuvenate markets. The Commerce Department will release housing starts on Tuesday. The National Association of Realtors will release existing home sales on Wednesday. should override any issues coming out of Cyprus to lead Asian markets higher, said Evan Lucas, market strategist at IG Markets in Melbourne. think you see a bit of a pickup in US housing, which should maybe mute some of the issues with Cyprus. fell 3.1 percent and China Resources Cement Holdings plunged 7.9 percent. Japan Sony Corp. lost 6 percent. stocks fell Friday, ending a 10day winning streak for the Dow Jones industrial average, its longest in nearly 17 years. Worries about inflation proved to be the impetus for the decline. The government said that consumer prices increased in February at the fastest pace in more than three years.



The Dow dropped 0.2 percent to 14,514.11. The Standard Poor 500 index fell 0.2 percent, to 1,560.70. The Nasdaq composite index dropped 0.3 percent to 3,249.07.



Benchmark oil for April delivery was down 95 cents to $92.50 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 42 cents to fini women online clothes sh at $93.45 per barrel on the Nymex on Friday.



In currencies, the euro fell to $1.2894 from $1.3083 late Friday in New York. The dollar fell to 94.74 yen from 95.60 yen.



For those OK with the mainstream, White River Forest welcomes more than 10 million visitors a year, making it the mostvisited recreation forest in the nation. But dont hate it for being beautiful; its got substance, too. The forest boasts 8 wilderness areas, 2,500 miles of trail, 1,900 miles of winding service system roads, and 12 ski resorts should your snow shredders fit the trunk space. If ice isnt your thing: take the tirefriendly Flat Tops Trail Scenic Byway 82 miles connecting the towns of Meeker and Yampa, half of which is unpaved for you road rebels. Try driving the Ridge and Valley Scenic Byway, which saw Civil War battles fought. If the tall peaks make your engine tremble, opt for the relatively flat Oconee National Forest, which offers smaller hills and an easy trail to the ghost town of Scull Shoals. Scaredycats can opt for Johns Mountain Overlook, which leads to twin waterfalls for the sensitive sightseer in you. Travel 20 miles west of Dolly Sods among the busiest in the East to find the Canaan Backcountry for more quiet and peace. Those willing to leave the car for a bit and foot it would be remiss to neglect dayhiking the White Rim Rocks, Table Rock Overlook, or the rim at Blackwater River Gorge. Rogers NRA via Hurricane Creek Road, North CarolinaMost know it as the highest country theyll see from North Carolina to New Hampshire. What they may not know? Car campers can get the same grand experience for less hassle. Drop the 50pound backpacks and take the highway to the high country by stopping anywhere on the twisting hence the name Hurricane Road for access to a 15mile loop that boasts the best of the grassy balds. Its the road less travelled, and the high one, at that. For a weekend getaway of the coastal variety and quieter version of the Florida Keys thats no less luxe, stick your head in the sand and ocean, if snorkelings your thing at any of Long Keys 60 sites. Canoes and kayaks are aplenty, as are the hot showers and electric power source amenities. Think of it as the getaway from the typical getaway. With the Colorado River still within view of this cliffedge site, Crazy Jug is a carside campers refuge from the troops of tourists. Find easy access to the Bill Hall Trail less than a mile from camp, and descend to get a peek at the volcanic Mt. Trumbull. women online clothes

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