diff -r 1e74350dd056 Lib/_pyio.py
--- a/Lib/_pyio.py	Tue Jun 17 22:27:46 2014 -0500
+++ b/Lib/_pyio.py	Wed Jun 18 14:38:59 2014 +0300
@@ -1224,8 +1224,10 @@
         return self.writer.flush()
 
     def close(self):
-        self.writer.close()
-        self.reader.close()
+        try:
+            self.writer.close()
+        finally:
+            self.reader.close()
 
     def isatty(self):
         return self.reader.isatty() or self.writer.isatty()
diff -r 1e74350dd056 Lib/test/test_io.py
--- a/Lib/test/test_io.py	Tue Jun 17 22:27:46 2014 -0500
+++ b/Lib/test/test_io.py	Wed Jun 18 14:38:59 2014 +0300
@@ -1546,6 +1546,53 @@
         pair.close()
         self.assertTrue(pair.closed)
 
+    def test_reader_close_error_on_close(self):
+        def reader_close():
+            reader_non_existing
+        reader = self.MockRawIO()
+        reader.close = reader_close
+        writer = self.MockRawIO()
+        pair = self.tp(reader, writer)
+        with self.assertRaises(NameError) as err:
+            pair.close()
+        self.assertIn('reader_non_existing', str(err.exception))
+        self.assertTrue(pair.closed)
+        self.assertFalse(reader.closed)
+        self.assertTrue(writer.closed)
+
+    def test_writer_close_error_on_close(self):
+        def writer_close():
+            writer_non_existing
+        reader = self.MockRawIO()
+        writer = self.MockRawIO()
+        writer.close = writer_close
+        pair = self.tp(reader, writer)
+        with self.assertRaises(NameError) as err:
+            pair.close()
+        self.assertIn('writer_non_existing', str(err.exception))
+        self.assertFalse(pair.closed)
+        self.assertTrue(reader.closed)
+        self.assertFalse(writer.closed)
+
+    def test_reader_writer_close_error_on_close(self):
+        def reader_close():
+            reader_non_existing
+        def writer_close():
+            writer_non_existing
+        reader = self.MockRawIO()
+        reader.close = reader_close
+        writer = self.MockRawIO()
+        writer.close = writer_close
+        pair = self.tp(reader, writer)
+        with self.assertRaises(NameError) as err:
+            pair.close()
+        self.assertIn('reader_non_existing', str(err.exception))
+        self.assertIsInstance(err.exception.__context__, NameError)
+        self.assertIn('writer_non_existing', str(err.exception.__context__))
+        self.assertFalse(pair.closed)
+        self.assertFalse(reader.closed)
+        self.assertFalse(writer.closed)
+
     def test_isatty(self):
         class SelectableIsAtty(MockRawIO):
             def __init__(self, isatty):
diff -r 1e74350dd056 Modules/_io/bufferedio.c
--- a/Modules/_io/bufferedio.c	Tue Jun 17 22:27:46 2014 -0500
+++ b/Modules/_io/bufferedio.c	Wed Jun 18 14:38:59 2014 +0300
@@ -2375,12 +2375,30 @@
 static PyObject *
 bufferedrwpair_close(rwpair *self, PyObject *args)
 {
+    PyObject *exc = NULL, *val, *tb;
     PyObject *ret = _forward_call(self->writer, &PyId_close, args);
     if (ret == NULL)
-        return NULL;
-    Py_DECREF(ret);
-
-    return _forward_call(self->reader, &PyId_close, args);
+        PyErr_Fetch(&exc, &val, &tb);
+    else
+        Py_DECREF(ret);
+    ret = _forward_call(self->reader, &PyId_close, args);
+    if (exc != NULL) {
+        if (ret != NULL) {
+            Py_CLEAR(ret);
+            PyErr_Restore(exc, val, tb);
+        }
+        else {
+            PyObject *exc2, *val2, *tb2;
+            PyErr_Fetch(&exc2, &val2, &tb2);
+            PyErr_NormalizeException(&exc, &val, &tb);
+            Py_DECREF(exc);
+            Py_XDECREF(tb);
+            PyErr_NormalizeException(&exc2, &val2, &tb2);
+            PyException_SetContext(val2, val);
+            PyErr_Restore(exc2, val2, tb2);
+        }
+    }
+    return ret;
 }
 
 static PyObject *