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Business Daily: Cyprus rocks the boat

20/03/2013

Cyprus rocks the boat

BBC World Service - Business Daily, Cyprus rocks the boat

Cyprus rejects an EU bailout deal. But there is still fear of a wider European bank-run.

Cyprus rejects an EU bailout deal. Uncertainty remains, as does the fear of a wider European bank-run. And David Bowie is back. Is the music icon a business icon as well?

Cyprus rejects the terms of an EU bailout deal. But with the EU standing its ground as well, who will blink first? We hear the latest from the Cypriot capital, Nicosia, and from Richard Corbett, the advisor to Herman van Rompuy, the President of the European Council. And, despite the rejection of a levy on Cypriot bank deposits, Ralph Silva, analyst with the financial consultants, SRN Global, says that the risk of a European bank-run remains very real. 

Also in the programme, David Bowie is 66 and has been a virtual recluse for the last decade or more. But his new album, The Next Day has gone straight to number one in the UK, and a record number of advance tickets have been sold for his David Bowie Is... art exhibition, which opens on Saturday at the Victoria and Albert Museum in London. Our arts editor Will Gompertz, looks at Bowie's ability to reinvent himself, and describes him as a business icon, "the Steve Jobs of Pop".

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