On Cyprus and the European Crisis

It has been non-stop Cyprus for the past couple of days this weekend. And it has brought back the bad ol' days when every weekend seemed to be another episode in endless crisis. To wit, this episode in Cyprus demonstrates how misplaced the excessive levels of complacency in markets are. The Cyprus episode also demonstrates that the European crisis is one that is being experienced on multiple levels in numerous locations; trying to call the next crisis is a losing battle. I would also say that th...

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