EU to Cyprus: “all animals are equal, but some animals are more equal than others“…Sunday night markets will tell if this imagesis Lehman II 🙂

So it turns out that those who noted that the Cyprus bailout took place ahead of a local bank holiday on Monday were onto something. The terms of the bailout deal represent a huge leap in how the EU is tackling the crisis. Time will tell whether this leap is over or into the chasm.

This is a quick reaction post. I will focus on likely market reaction because that is what I know about – and why you’re likely reading my ramblings – and leave meditations on justice and democracy to people closer to the action.
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