The Mouse That Roared…

17 Mar

Tomorrow, Cyprus could vote to leave the euro.

If Cypriot depositors are forced to pay today, why not Spanish ones tomorrow? People queuing up in massive numbers outside ATM machines is always an incredibly scary sight wherever you are and given the anger in Cyprus, we just don’t know how people will react when banks open again (unclear when, the Cypriot government may declare both Tuesday and Wednesday bank holidays as well). But fears of deposit-led contagion to other parts of the eurozone should definitely not be be overstated.

If Cyprus goes, the rest will follow…can’t wait for for the musical…



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