Comments on: Cyprus’s now-certain default http://blogs.reuters.com/felix-salmon/2013/01/25/cypruss-now-certain-default/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: eddyfi88 http://blogs.reuters.com/felix-salmon/2013/01/25/cypruss-now-certain-default/comment-page-1/#comment-48462 Mon, 28 Oct 2013 18:24:22 +0000 http://blogs.reuters.com/felix-salmon/?p=20305#comment-48462 Hi Felix! Is it possible to have a copy of “When Countries Go Bust”, which is based of the presentation you are giving at Columbia University this October 2013. Thank you in advance.

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By: dandraka http://blogs.reuters.com/felix-salmon/2013/01/25/cypruss-now-certain-default/comment-page-1/#comment-45675 Mon, 28 Jan 2013 11:21:12 +0000 http://blogs.reuters.com/felix-salmon/?p=20305#comment-45675 Thank you for the very good atricle Felix. On the same topic, you might want to check the always dependable Prodigal Greek, “Cyprus, with friends like these” ( http://theprodigalgreek.wordpress.com/20 13/01/24/cyprus-with-friends-like-this ).

My favourite line : “[…] And it is at this point that Europe, in its usual fashion, started messing this one up.”

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By: johnhhaskell http://blogs.reuters.com/felix-salmon/2013/01/25/cypruss-now-certain-default/comment-page-1/#comment-45662 Sat, 26 Jan 2013 10:06:14 +0000 http://blogs.reuters.com/felix-salmon/?p=20305#comment-45662 Moopheus- because this is a 100% EU created situation. In 2009 Merkel said no country in the EU would be allowed to default. Cypriot banks, regrettably, took her at her word and loaded up on Greek debt, which was then haircut 70%. Now Cyprus either gets a bailout or defaults. And the “logic” offered for not bailing out Cyprus is that – get this – tax discipline in Russia is poor!

Cyprus joined the Euro in 2008 and will have defaulted in the beginning of 2013. Five years from prosperous independence to poverty, thanks to the Euro.

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By: Moopheus http://blogs.reuters.com/felix-salmon/2013/01/25/cypruss-now-certain-default/comment-page-1/#comment-45654 Fri, 25 Jan 2013 16:42:07 +0000 http://blogs.reuters.com/felix-salmon/?p=20305#comment-45654 “Should it impose a haircut on Cyprus’s uninsured depositors?”

Sure, why not? What part of “uninsured deposit” didn’t they understand when they put the money there in the first place? That’s kind of what “uninsured” means–if the bank goes bust, you lose. Maybe we’d have fewer bad banks if we let some people actually experience that.

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