On why the ECB is cutting off Cyprus on Monday

Today's daily commentary is on Cyprus again. The latest information on Cyprus is that the ECB has told the Cypriots it could no longer extend the ELA facility being used by the now bankrupt Cypriot financial institutions. Cyprus has until Monday to find the funds to support their recapitalization or they will be cut off after the jump I will explain what led to this decision and what alternatives Cyprus now has.
The Cyprus banking system recapitalization problem has been known since June ever si...

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