«Cyprus may be forced out of the euro and this would be dangerous» -Michalis Attalides
Interview with Michalis Attalides.
The bail-in at Cypriot banks: European implications
This episode illustrates that investors have come to expect some sort of bail-in with future deals.
Small country, oversized financial sector: Really intolerable?
Several European politicians have opined that a large financial sector was an unacceptable business model for a small country.
Cyprus Forced Into Bailout Deal
For the first time in this crisis, the bailout does not cover depositors in full. Losses are to be suffered by not only shareholders and bondholders, but even by depositors. We expect future bailouts to incorporate this feature.
Cyprus Targets Its Savers in Bailout Agreement
They have hit their savers with a grievous blow, and this will do irreparable harm to trust and confidence.