Cyprus

Forget Cyprus, Japan Is The Real Crisis

Forget Cyprus, Japan Is The Real Crisis

Asia Confidential on 03/23/2013 12:00 -0400

Forget Cyprus. A much bigger story in the coming weeks and months will be in Japan, where one of the greatest economic experiments in the modern era is about to begin. A country where government debt even dwarfs those of Europe's crisis-ridden nations, Japan will attempt to inflate its way out of a 23-year deflationary spiral.

Troika Reportedly Rejects 'Plan B' in Cyprus

 Troika Reportedly Rejects 'Plan B' in Cyprus

Spiegel Online

22 March 2013
Greek media outlets reported early Friday afternoon that an alternative bailout package proposed by Cyprus has been rejected by the troika. "The coming hours will determine the country's future," a government spokesman in Nicosia said.

EU takes sinister path in Cyprus

EU takes sinister path in Cyprus

By Chan Akya

If at the age of 20 you aren't a communist, you have no heart.
If at the age of 30 you aren't a capitalist, you have no brain. Usually attributed to Winston Churchill

And if at the age of 40 you haven't left the European Union, you have neither heart nor brain - a suggested modern update to the above Churchill quote.

The scary politics of the euro zone

The scary politics of the euro zone 

Ezra Klein, The Washington Post, 22 March 2013

Confused by all the talk of Cyprus? Don’t be. Here’s the situation in three sentences: The country’s banks were using Russian deposits to buy Greek bonds. The Greek bonds went bad, and the Cypriot banks lost a bundle. They now need a bailout from their euro zone partners, but it’s tough to convince German taxpayers to pony up if they think the money is really going to Russian oligarchs.
But here’s the bigger question: Why are we talking about Cyprus at all?
Cyprus is tiny. It has fewer people than Philadelphia. It has a smaller economy than Vermont. It has no nukes. It is not a country that typically commands global headlines.

How a Banking Crisis Can Kill You

 How a Banking Crisis Can Kill You

Dr Raj Persaud and Dr Peter Bruggen, Huffinghton Post, 21 March 2013

Researchers are uncovering different and surprising ways Banking Crises can kill.
'Do Banking Crises Cause Terrorism?' is the title of a new research paper analysing the effect of banking crises on terrorist activity for 146 countries between 1972 and 2006. The study, from the Universities of Paderborn and of Freiburg, Germany, is about to be published in the prestigious academic journal Economics Letters. It showed that banking crises are followed by increases in domestic terrorism. 

Cyprus crisis: What happens next?

 Cyprus crisis: What happens next?

Edwin Lane, BBC News, 22 March 2013

 

Cyprus, one of the smallest members of the European Union, has become the latest high-profile casualty of the long-running eurozone crisis.A bailout deal worth 10bn euros ($13bn; £8.5bn) was agreed with the EU and the International Monetary Fund (IMF) last week. But since then the Cypriot parliament has rejected the proposal of a one-off levy on people's bank savings.Cypriot authorities are now in a race against time to agree an alternative plan that will raise the 5.8bn euros it needs to unlock the bailout funds before a Monday deadline set by the European Central Bank (ECB).
So what happens next?

 

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