European leaders must surely know that they are taking a big risk with Cyprus. The danger is obvious. Now that everybody with money in Cypriot banks is being forced to take a hit, nervous depositors elsewhere in Europe might notice that a dangerous precedent has been set. Rather than run even a small risk of an unwanted financial ‘haircut
Wednesday, March 20th, 2013
Europe’s Leaders Run Out of Credit in Cyprus
Author: GIDEON RACHMAN
Source: Financial Times (U.K.)
Publication Date: 3/18/2013 19:11
Link: Europe’s Leaders Run Out of Credit in Cyprus
Source: Financial Times (U.K.)
Publication Date: 3/18/2013 19:11
Link: Europe’s Leaders Run Out of Credit in Cyprus
Stephan: I don't think it is really clear to people how fragile the world economy is. I am in Paris right now to make a presentation at the Sorbonne -- which I did tonight -- and have been struck by how stressed people are about the Euro and the EU itself. This report gives a good assessment of the situation. If the Euro crashes the American economy will be deeply affected.
