Cyprus: The First Domino?

We had anticipated publishing a Note on the astounding developments in Cyprus over the weekend. However, events were happening so fast that we decided to pause and get a better sense of the significance of this momentous event and gauge the repercussions.

We now learn that banks in Cyprus will be closed until Thursday of this week so the Cypriot Parliament can vote on the proposed terms of a bailout of Cypriot banks. Here are the proposed terms of the bailout as of mid-morning Monday March 18:

Written by Micheal Berry, MBA - [ Discovery Investing Web Site ]