March 25, 2013
Cyprus, Baby! Cyprus!
Posted by Usha Rodrigues

So I've been fascinated by the Cyprus story, ignorant though I am of many of the details.    If you're like me on one or the other count (ignorance or fascination), check out our friends at Credit Slip:

Anna Gelpern on

The inevitable interconnectedness of banks and governments

Adam Levitin on

the possibility of more EU bank runs 

whether the deposit tax would have been worth it (answer: no)

what happened to absolute priority

Stephen Lubben on how not to do a bailout


More than anything, I keep picturing myself as a depositor with less than 100,000 euros in my "guaranteed" account, looking at an overnight "tax" that strips me of 6.75%of my holdings.  I would not be happy.

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