Events in Cyprus this week have been an unpleasant reminder that the eurozone crisis is still bubbling beneath the surface.
Events in Cyprus this week have been an unpleasant reminder that the eurozone crisis is still bubbling beneath the surface.
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Cyprus may account for only 0.2% of the eurozone economy but it is nevertheless still capable of bringing the entire project down with it. Surely this will be looked back on as the prime example of how not to organise a bank bail-out. Late last night newly elected President Nicos Anastasiades was attempting to ram a second agreement through the island's reluctant Parliament but whatever the outcome the Cypriot economy has been badly damaged.
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It is in everyone's interests that Cypriot banks do not implode
Events in Cyprus this week have been an unpleasant reminder that the eurozone crisis is still bubbling beneath the surface.
Cyprus may account for only 0.2% of the eurozone economy but it is nevertheless still capable of bringing the entire project down with it. Surely this will be looked back on as the prime example of how not to organise a bank bail-out. Late last night newly elected President Nicos Anastasiades was attempting to ram a second agreement through the island's reluctant Parliament but whatever the outcome the Cypriot economy has been badly damaged.
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We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis. If you're a relatively new user then your comments will be reviewed before publication and if we know you well then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules, which are available here.
Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.
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