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No one voted for what could have been the most devastating economic policy action in over a hundred years anywhere. Wall Street Journal's article sets out further details and is linked above. With the rejection of this plan the country still faces major hurdles in order to avoid bankruptcy - whether a deal can be cut with the Russians remains uncertain. We are consequently withdrawing our stern "Market Warning", but will continue to keep an eye on events, particularly if Cyprus is the first nation to be forced from the EU due to its financial and economic mismanagement.
First Financial Insights
March 19, 2013
EU Policy-Makers Look To Future of Cyprus
"Guys, that's not Cyprus! Oh, I get it - another Nauru?"