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The way that we understand this bailout agreement, the regulators are going after the extremely large depositors, many of them Russian, who have turned Cyprus's banking system into their own personal play pen. Small depositors are supposedly paying little to nothing!
It would appear that this U.S.British meeting is more on how to cooperate amid defense budget cuts than anything else! http://www.defensenews.com/article/20130323/DEFREG02/303230007/U-S-U-K-Chiefs-Hold-Historic-Strategy-Meeting
Regards,
Joe
To say that "God exists" is the greatest understatement ever made across space and time. |