How can a country that small need so much bailout money.
I dont know enough about Cypris (I wasnt really sure where it was before all this - I thought it was closer to Greece (thanks google maps) to really make an informed comment about this.
There has to be some reason they decided this time to go after bank accounts in a special tax rather than other methods of repayment.
Does Cyprus know its ok if one of its bank goes tits-up to save the other banks? It is a free market, sure there will be some blow back but all this saving banks stuff is complete garbage.
From what I have heard, ATMs are still functional. The Finance Minister for Cyprus expects no less than a 10-15% run as soon as banks open.
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