This what you call "letting the cat out of the bag". Of course it's a model for other cases: tax payers in Germany have no appetite for further bank bailouts in the periphery. Happily Ireland looks like it's close to beginning to repay its bailout ...

ECB Nowotny says Cyprus is no model for other cases

This is an (even-more-than-usually) interesting Reuters article. Much more to it than the headline suggests, although that is already interesting enough:

Money fled Cyprus as president fumbled bailout

Customer to banker: Please transfer €XXX.XXX to my bank in England Banker to customer: (Sorry) no. Get it now?

Eurogroup's Dijsselbloem spokeswoman says Dijsselbloem didn't say Cyprus a template for bank...

This man Dijsselbloem (my compatriot) is an appalling communicator for someone who speaks such excellent English. He'd never held government office until he became minister of finance in November last year. He's hopelessly inexperienced and it ...

Eurogroup's Dijsselbloem spokeswoman says Dijsselbloem didn't say Cyprus a template for bank...

I like Medvedev!

Russia backstops Cyprus bailout despite anger

Russia says that the terms Cyprus was looking for as renegotiation of its debt to Russia were the equivalent of writing off 10% of that debt.

Russia says loan terms sought by Cyprus amount to 10% writedown

:-)

Last-minute Cyprus deal to close bank, force losses

Yes, before my government commits to sharing EZ-wide debt instruments (and interest rates) with, say, Greece I want it to be sure that Greece is going to collect taxes and not fiddle its public finances. Yes, indeed. Do you think that's wrong or ...

No sign of fallout in Spain from Cyprus crisis, minister says

Yep, they are moving towards fiscal union. These governments were never going to agree to that ten years ago, but this rolling crisis is forcing it to come about. When there's finally a fiscal union we'll have EZ-wide public debt instruments and ...

No sign of fallout in Spain from Cyprus crisis, minister says

Speaking for myself (and now not as someone with a long EUR/CHF position!) I am Dutch and I am very much a European. Monetary union without fiscal union was a big mistake. I believe absolutely that we have a duty of solidarity in sorting that mess ...

No sign of fallout in Spain from Cyprus crisis, minister says

Shocking complacency on the part of the Spanish and other EZ government who are saying: "see, no contagion, markets quiet". Very dangerous, believing one's own spin. They should keep their mouths shut.

No sign of fallout in Spain from Cyprus crisis, minister says

I'm new to Zero Hedge but from the recent articles I've read it seems they specialise in polemical ranting and raving. Not very instructive or insightful. PK

Eurogroup Meeting On Cyprus Begins In Brussels

Troika said whack the dirty millions (with a levy on >€100k deposits), Nicosia said: "we can't hit those guys hard, we'll make the people pay" (with a levy also on <€100k deposits). When that didn't work, Nicosia said: "OK, we'll steal the national ...

Chancellor Merkel Angry with Cyprus as Euro Crisis Intensifies

What a joke. The Brits never got started on austerity.

Even Britain has now abandoned austerity

Shame on those unscrupulous German exploiters. Trade finance, eh, how underhand can you get?

'Next few hours will determine the future of the country' - Cypriot government spokesman

Thx, Sanguis. That Guardian blog is a good source of credible free news. Personally I can't see how the EU (and much less the Euro zone) can keep a member whose economy is built on laundering money extracted from Russia by organised crime. Either ...

'Next few hours will determine the future of the country' - Cypriot government spokesman

Cyprus plans to protect its position as a banking centre by imposing capital controls? Er, how does that work?

Hearing: Cypriot banking bill has approval of troika to include capital outflow controls