Stop Saying That Cyprus Is A Unique Case

From efxnews.com

It's a flat nonsense to argue that the levy on the bank deposits in Cyprus is a unique case that won't apply to other EMU countries, says Deutsche Bank. "The incident has probably ensured that if a bank or banking system in Europe is again under strain then depositors are, as a minimum, likely to be on the table as a bargaining tool and these depositors would be rational to think hard about the safety of their money and potentially seek alternatives, DB clarifies. As such, DB believes that in systemic terms the Cyprus situation will likely go through slow burner of an issue more than an immediate macro shock. That ... (full story)