On Cyprus and the European Crisis

It has been non-stop Cyprus for the past couple of days this weekend. And it has brought back the bad ol' days when every weekend seemed to be another episode in endless crisis. To wit, this episode in Cyprus demonstrates how misplaced the excessive levels of complacency in markets are. The Cyprus episode also demonstrates that the European crisis is one that is being experienced on multiple levels in numerous locations; trying to call the next crisis is a losing battle. I would also say that the miserable way the Cyprus deal was handled by EU leaders shows yet again that domestic political and ideological considerations  will continue to constrain policy responses, making crisis more volatile. That said, it is not at all clear yet that this has systemic implications. It is when Spain and ...


As this site is now reader-supported via Patreon, the remainder of this article is only available to subscribers at a specific patronage level. Articles at patronage levels BRONZE, SILVER, and GOLD are denoted by the categories in blue capital letters above the post. Posts categorized DAILY are available to both SILVER and GOLD patrons.

Click here to join. Your readership is greatly appreciated!

Registered users can log in by entering details here or below.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More