The first bankrupt nation? And a run on the banks regardless, as Cypriots realise that ALL their savings may now be in danger, not just 6-12%. And don't think for a moment it will stop in Cyprus, or just the EU. The first line of dominoes have already fallen, but this is the second line, watch them fall. Europe will not back down on the bailout being underwritten by savers' deposits as they feel that Euro money to bail out the large amount of Russian money in Cypriot banks is not acceptable. Seems the only possible way out of this hole will be a Russian bailout. We live in interesting unchartered times, we continue to wrongly assume that this financial crisis can never lead to the conditions experienced 100 Years ago in the developed world. The financial endgame has begun.
Cyprus MPs reject divisive bank tax http://www.bbc.co.uk/news/world-europe-21842966
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