Cyprus Closes Banks Until Next Week as Fear of Runs Continue: Cyprus is reportedly keeping banks closed until..that was the latest we heard from the financial media. What can we make it from it ? where the Bailout has gone wrong ?
Cyprus can’t really be about Cyprus, can it? After all, the banking sector in that country pales in comparison to things like the London Whale trade and the amount of capital the big banks have to raise to meet Basel III.
Some will say it is about depositor insurance. Fair enough.
Continue reading “CYPRUS – What next ?”