Rolling the Dice in Cyprus
The task was never going to be an easy one: impose losses worth about €5.8 billion on lenders to the Cypriot government and depositors with the country’s banks. And now the rejection of that effort has led Europe to its latest impasse.
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PRINCETON – The task was never going to be an easy one: impose losses worth about €5.8 billion ($7.5 billion) on lenders to the Cypriot government and depositors with the country’s banks. And now that effort has led Europe to its latest impasse.