Even by euro zone standards, the handling of Cyprus' banking crisis has been a monumental mess. After a week of backtracking, blundering and last-minute brinkmanship, the deal stitched together between the Cypriot authorities and other euro zone governments in the small hours of Monday morning averted the imminent risk of a banking meltdown and
Cyprus: Another Fine Mess
A man walks out of a Laiki (Popular) Bank UK branch in northern London, Monday, March 25, 2013. The people with deposits in the UK branches of the bank are protected by UK law. Cyprus avoided bankruptcy, and potential turmoil across the eurozone was averted, by the country securing a last-minute euro10 billion (US$13 billion) […]