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Saturday, March 30, 2013

Cypriot Capital Controls - End of Single Currency

Cyprus: from a tiny problem comes the end of the single currency--

Mish's Global Economic Trend Analysis: Reader Asks "Where's the Money?": "I believe that's a rhetorical question. Robert knows the answer. Even with the EU kicking in 10 billion euros (a loan not a gift), the money is not there. If the banks were sufficiently capitalized, there would not be a need for capital controls. End of the Single Currency in All but Name - Jeremy Warner at the Financial Times has an interesting article on this very subject. Warner says If capital controls are introduced in Cyprus, it is the end of the single currency in all but name." (read more at link above)


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