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M&G's Isaacs: 5 reasons why Cypriot bailout is insane in the brain
Markets
by Stefan Isaacs on Mar 18, 2013 at 10:53
This highlights the extent to which a number of banks in Europe remain reliant on ECB funding, and that if that funding is withdrawn then their collapse is inevitable.
Finally, we have yet another example of a country being forced to face a stark choice between ceding sovereignty to Brussels or facing financial ruin. The Eurozone project continues to ask a great deal of its citizens. Bailouts don’t – and won’t – come cheap.
The Cyprus deal will be in the headlines for the next few days. We can’t help but think that the markets will be listening to Cypress Hill – Insane In The Brain for the next week or so. Maybe the Troika should too.
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Arigatou Japan! Is Nikkei still world's top equity hotspot?
by Emma Dunkley on May 23, 2013 at 14:09
2 comments so far. Why not have your say?
PCIAM
Mar 18, 2013 at 12:07
I wonder if any of the €2bn of bank debt was held by German or Finnish banks?
report thisRoger11
Mar 18, 2013 at 13:25
I highly expect none of it was... This seems to be a ploy to address Cyprus' issue with money laundering and tax haven investments from overseas, a large proportion of which is Russia.
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