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March 18, 2013

Is the Rest of Europe Next?

Megan McArdle, The Daily Beast

AP Photo

If Cyprus had done this on its own, the country would be in trouble, but the rest of the world would just emit a bemused sigh and move on.  Now, however, this plan has the imprimatur of the EU stamped on it--and so people are going to be looking hard at other European banking systems.

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TAGGED: Cyprus, Eurozone

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