Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (220239)	3/22/2013 12:24:01 PM
From: Bread Upon The Water	Read Replies (2) \| Respond to of 542229

...mentions how unique Cyprus is. I vehemently stand behind the fact that Cyprus has little similarities with Iceland - other than that they are tiny island nations. The Cyprus problem is indeed very unique because of the role Russia plays in the country - whereby Russians are laundering their huge fortunes through Cypriot banks. NOW, you may have mixed up Iceland and Ireland (which was also mentioned in the article), but that was my point!!!! Krugman argues about the rest of Europe and then out of the blue in the last sentence throws out Iceland. It is my understanding that for the EU, Cyprus itself is not the problem per se (for the EU), it is the fact that they are scarred to death that a bank run in/on Cyprus will trigger ones in Italy and Spain--and then that's a whole different ball game--with global implications.