Cyprus endgame: What happens if its banks collapse?
As you know, it's all designed to hurt the Russian ..
Only what is necessary to be stupid not to realize one thing - what if Russia will raise the price of gas for the EU on the same 20% who want to charge to its bank accounts in Cyprus to recoup their losses?
everyone will be playing DOOM
An interesting point of view what is actually trying to be done and for what purpose : Analysis: Lex Cyprus will set precedents for closer EU union
Worth reading as an explanation of the possible reasons for the whole mess that is done so far
Oh c'mon I'm short from last two years to now.
Please Cyprus, collapse at lest once for over so I can stop to pay rollovers. Can't wait longer.
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The clock is ticking on Cyprus.
The European Union wants the beleaguered country to find nearly €6 billion to add to a €10 billion bailout program backed by the International Monetary Fund to save the country's insolvent banks.
And Cyprus is scrambling to put together a plan that will satisfy its would-be rescuers, while not further inflaming depositors.
Amid great uncertainty, one thing is clear -- the collapse of the tiny island nation's banks would lead the 17-member eurozone into uncharted waters.
Without agreement on a European rescue, emergency funding from the European Central Bank that has been keeping Cypriot banks afloat is due to end on Tuesday.
But will the ECB carry out its threat to yank the funding, knowing it would start a chain reaction that would almost certainly end in Cyprus abandoning the euro after just five years?
Some experts believe it will.
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