What a muddle and fudge, the situation with Cyprus is wrong.
If you have a common currency, you have to have a common currency. Everyone has to be treated the same. If one gets out of line and speculates then the result has to be shared with/by all.
The ECB is obviously a weak willy organisation that must overview these things and stop them getting out of hand. Banks, like those in Cyprus, must be told very clearly that they have to cut risk and stop risky lending.
Most people knew this was coming, up to two years ago. No one did anything.
Especially the politicians who refuse to take sensible decisions to back up their idealism.
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