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Containing a Potential Cyprus Catastrophe

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If there were awards for creating market instability, the ECB/IMF plan to impose a “tax” on Cypriot depositors – effectively renouncing depositors’ insurance guarantees – would rank second only to the US Treasury decision to let Lehman Brothers go bankrupt,

Posted in ECB, Economics, Euro Zone, Germany, IMF, Our Blog, Taxation, Zombie Banks Tagged with: , , , , ,