Comment on Editorial Board: In Cyprus, making up a euro solution on the fly

Editorial Board: In Cyprus, making up a euro solution on the fly

THIS MUCH can be said fairly certainly about the new bailout plan for Cyprus: It’s a big improvement on the previous plan. Last week, the International Monetary Fund, the European Union and Cyprus’s own government concocted a scheme that would have propped up two of the island’s largest insolvent banks, partly by confiscating the supposedly insured deposits of small savers.

 

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