Yesterday in Cyprus

http://www.theautomaticearth.com/Finance/bank-run-in-cyprus-whos-next.html

http://www.businessinsider.com/cyprus-bailout-risks-europe-bank-runs-2013-3

http://www.zerohedge.com/news/2013-03-16/everyone-shocked-what-just-happened-and-why-just-beginning

http://www.golemxiv.co.uk/2013/03/eu-imposes-collective-punishment-on-cypriots/?utm_source=rss&utm_medium=rss&utm_campaign=eu-imposes-collective-punishment-on-cypriots

http://theautomaticearth.com/Finance/the-cyprus-deal-is-already-under-threat-of-course.html

There are suggestions that the Cypriot government may try to meet public outrage by reducing the 'savings tax' on small depositors and increasing it on large - whom the powers that be like to characterise as Russian money launderers, glossing over the fact that any such that exist do so courtesy of the laxity of the banks and their regulators.

The Rock

But things are caught between a rock and a hardplace. Any such concession to the 'little people' on whom governments depend for votes wil transfer the burden more to international investors, on whom governments depend for loans.


The Hard Place