Saturday, March 16, 2013

A Cypriot warning

So finally the creditors are getting punished. A levy on those who lent Cypriot banks money is being charged, but still below the charge they should bear.

The Euro zone crisis is entering a new phase, and the general public may just start realising what is at stake - their wealth.

Clearly the EU has decided to make an example of Cypriot creditors.

The impact of that message remains to be seen.

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