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Entries tagged cyprus

March 20, 2013 11:54 AM Cypriot Haircuts

So Cypriot banks are broke, big-time. They took tons of money from Russian mafiosi and let it to Greece, which has since melted down. I get that.And the banks were so large compared to the Cypriot economy that the locals...

By Mark Kleiman

March 17, 2013 12:13 PM The Cyprus Bank Bail Out: Hard to Think of a More Politically Costly Option

This weekend, the Eurozone was greeted with the specter of a something it had hoped was behind it: the dreaded bank run. Cyprus, a small Eurozone state, agreed to terms on a 10 billion Euro bailout that included an immediate...

By Joshua Tucker