"What was widely viewed as an ill-conceived Cyprus deal last weekend renewed fears of a re-escalation of the euro debt crisis. The original proposal to hit insured depositors below €100k caused a bank run and set a new precedent in the course of the Euro area debt crisis, with potential negative consequences for bank deposits not only in Cyprus but also in other peripheral countries. Once again, as it happened with the Greek crisis last May, the Cyprus crisis exposes the fragmentation of the deposit guarantee schemes in the Euro area and its inconsistency with a monetary union._______________________There is no immediate crisisI think someone should send Europe the thinking of what is proclaimed by out intellectual eliteLook, like America, the Euro and the various countries in modern Europe have never failed. Therefore they never will and all this is just a fake crisis to make someone look bad. It is just so obvious. Heck, you know they drink tea on all those countries right? Do you think that is a coincidence?
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