cmendla - 9:29 pm on Mar 30, 2013 (gmt 0)
BwnBwn - It's even worse than it might seem. I believe that a lot of the large depositors were Russian Expats who were former KGB/GRU current russian mafia people. Keep in mind that Vlad Putin was a former KGB Colonel.
So, Cyprus just took a couple of billion from former KGB people who might just be on Friendly terms with Putin. What could possibly go wrong there?
The other issue is that Margaret Thatcher was right. The problem with socialism is that sooner or later, you run out of other people's money. I'm sure there are a lot of people in the US left who are drooling over the prospect of raiding bank accounts directly.
Oh, and if you do business with Cyprus, keep in mind that your customers there might not be able to pay you due to currency export restrictions..
the smelly stuff is going to impact the rotary air movement device big time.