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What the Cyprus Bailout Could Mean for Europe's Debt
The Cypriot government has chose to extend its release-day banking holiday through Thursday, keeping banks closed and buying parliament a small more time to mull over a transact business with European Union creditors that would
The bloc struck a transact business on Saturday to give Cyprus rescue loans worth 10 billion euros ($13 billion), but defied warnings – including from the European Central Bank – and imposed a levy that would cost those with cash in the island's banks between 6.75
After all, it's just a small island somewhere in the Mediterranean. But what's going on in Cyprus could really matter — not just to the rest of Europe, but to the rest of the world. Here's the small version of what's happening:
The Cyprus fiasco sets a high bar for the euro zone's new banking union. The new superregulator might not have been able to stop the blowup, or to avoid losses for insured depositors. The apparent lesson from the mess is the call for for a procedure to wind
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