The side effects of the Cyprus cure

It will be ironic if Cyprus, one of the smallest countries in Europe with little over 1 million people and 0.5% of the EU economically, were to prove a key inflexion point in the crisis. Cyprus needs around 17-18 billion to recapitalise its banks (around 10 billion) and for general government operations including debt servicing (7-8 billion euro). 

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