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Tag Archive: Tuesday


Cyprus Reaction

There has been a lot of negative comment about the Cyprus deal. That is understandable: you can reasonably argue that imagesit will produce crippling austerity; that it is ridden with moral hazard; that it will create a bank run across most of Southern Europe. But what you can’t argue is that it was unexpected.

Too understand the deal in-case If you are in Cyprus :
* You can put money into your bank, but you can’t get it out again. At least you can, through ATMs, but only in very small amounts.
* If you have money on deposit, you can’t take the money out and close the account. And if it’s a time deposit, when it reaches the end of its life, you can’t have the money to spend. You have to roll it over into a new deposit. Continue reading

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I do not like writing on the politics but when it hampers the reform of the nation there are concerns should be raised !!

Wednesday India restored electricity to the states, inhabited by 680 million people, that lost power Tuesday. But it will take much longer to restore the nation’s reputation after a dismal few days when a train fire killed 32 in south India, industrial production showed its slowest growth in months, there were two consecutive days of massive blackouts, and the government was widely ridiculed for Continue reading

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