The Cyprus debacle must wake Europe up

The Cyprus debacle must wake Europe up

It is simply inexplicable - and inexcusable - that the situation in Cyprus has been allowed to get into such a mess.

It is simply inexplicable - and inexcusable - that the situation in Cyprus has been allowed to get into such a mess. EU governments, the European Commission and the European Central Bank all knew this was coming. They should have had a plan, yet they clearly didn't, and what emerged was a botched compromise between the rich countries' demands that big Russian depositors get hit and Cyprus's own attempts to protect its position as a...

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