For many of the gangsters and underworld financiers who treated Nicosia as another stop on their laundry routes, new havens are an urgent necessity. Europe,Cyprus,Money laundering,Organized crime,Privacy,Russia,Mark Galeotti
Cyprus will try to draw strength from its not-so-distant experience of invasion — and the fact a whole generation knows what it means to rebuild from scratch.
Banks in Cyprus have reopened to customers for the first time in nearly two weeks, with customers now able to access their accounts, albeit with strict restrictions on transactions.
There is already talk that a ‘Cyprus euro’ may acquire a different value to every other euro, not what is supposed to happen to a single currency. Europe,capital controls,Cyprus,Euro,Paul Maidment
Moral hazard may not be quite dead in Europe but it has a bad, hacking cough.
Europe,Cyprus,Jeroen Dijsselbloem,moral hazard,Systemic risk,Reuters Comment