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Posts Tagged ‘where to put ones money’

Fallout From Cyprus: Increasing Unease

Posted by Larry Doyle on March 28th, 2013 8:44 AM |

The island nation of Cyprus today implemented a set of capital controls within its banking system so as to forestall a “run on its banks.”

Having had a number of conversations with individuals since the onset of this meltdown in Cyprus, the consistent theme among people with whom I have spoken is one of increasing unease.

Cyprus may be a small island nation with a level of economic activity that barely registers on the scale of international trade and overall output. That said, when funds can be expropriated in the manner in which these large depositors in Cyprus are experiencing, there is a ripple effect as people think, “how would I feel if that happened to me?” (more…)






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