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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