With the great amount of debate, chatter, and serious analysis about the EU’s financial rescue of Cyprus from insolvency and potential departure from the eurozone, many wonder if the EU policy emerging from the Cypriot “bail out” will have a lasting impact on the political and economic integration of the Europe. In John Sydney Hopkins view, the EU rescue of Cyprus will be seen as a milestone event with a lasting impact on the EU’s ability to manage the process of integration.
LONDON | City-based fund manager Pawel Morski (pseudonym) believes the EU is recognising it is moving towards a new regime of bailing in banks. For a non-template, he points out, the Cyprus solution drops some cracking clues as to Brussels’ priorities.
MADRID | Any economy, save for a Soviet one, is run under the healthy guiding rule that smart decisions are rewarded and wretched ones get penalised by the market.
Presseurop.eu | By Matthias Horx | Greedy banks, the EU or Angela Merkel: The search for the culprit in Cyprus is running along the usual fault lines of the euro crisis. But do individuals not share in the responsibility for the mistakes of their society? That would mean the Cypriots would have to give up some of their savings deposits.
MADRID | By Ricardo Cantalapiedra | A Southern European countries coalition is necessary to counterbalance the troika’s power.What would happen if more countries asked Russia, or even China, for help?
LONDON | While the average German bank deposits have returned some $130 per $1,000 since 2008, the Cypriot figure almost doubles it. Yield information like this throws a very different light over what is happening this week in Cyprus.
MADRID | Was it necessary to impose such a hard medicine for a bail-out amounting to roughly €10 billion? The only plausible answer lies in the forthcoming German general elections bound to banish all common sense for future months.
NEW YORK | If the same deal had taken place on this side of the Atlantic during the TARP (bank rescue program), some US media stated on Monday, we would have seen the Armageddon.
MADRID | By Antonio Sánchez-Gijón, capitalmadrid.com | This so-called “best solution” brings a huge question marked attached to it: how secure are bank deposits in Italy, France or Spain?
By Euronomist | Being a Cypriot MP probably is today one of the worst jobs in the world. The return to the Cyprus pound does may sound more attractive now.