Bini Smaghi on Cypriot Banks Levy, Europe Crisis

March 19 (Bloomberg) -- Former European Central Bank Executive Board member Lorenzo Bini Smaghi talks about Cyprus's bailout plan and the outlook for Europe's sovereign-debt crisis. Euro-area finance ministers told Cyprus to raise 5.8 billion euros ($7.5 billion) from bank depositors to unlock emergency loans, maintaining the revenue target while suggesting sparing small-scale savers. Bini Smaghi speaks from the Credit Suisse Asian Investment Conference in Hong Kong with Susan Li on Bloomberg Television's "First Up." (Source: Bloomberg)

Are China's Banks Heading for Disaster?
29:16 - There is a warning today that China is headed for an unprecedented financial meltdown. That is the dire forecast from the hedge fund manager who correctly called the sub-prime crisis in the U.S. Bloomberg's Stephen Engle reports on "First Up." (Source: Bloomberg)
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