Developing Affordable Housing Ecosystems World Wide
[Continued from yesterday's Part 4 and the preceding Part 1, Part 2, and Part 3.] By:David A. Smith Previous posts in this week-long series have established that Cyprus was treated not as a nation, not even as a subsovereign state, but rather as a failed financial institution that needed to be forcibly recapitalized. We’ve [...]
[Continued from yesterday's Part 3 and the preceding Part 1 and Part 2.] By:David A. Smith By now it’s clear that Cyprus has lost its sovereignty, accepted the certainty of a severe depression, and destroyed its economic prospects for a decade. The official lenders may see the second deal as a good [...]
[Continued from yesterday's Part 2 and the preceding Part 1.] By:David A. Smith In the past two days, we’ve seen what happened with the troika’s takeover of Cyprus’s two largest banks and how that happened. As the Cypriot economy is dominated by the banking sector, that completes a takeover of Cyprus in everything [...]
[Continued from yesterday's Part 1.] By:David A. Smith Yesterday’s post described what happened to Cyprus, as seen through the lenses of bank financiers and bank regulators, whom as we saw yesterday were the rulers dictating terms. Just sign here, Your Excellency Sources used for this post For this post, I [...]
By: David A. Smith A bank is not a country. A country is not a bank. Yet the troika – EU, ECB, and IMF – that decided how to extend new capital to Greek Cyprus treated the nation as if it were interchangeable with a bank. While to financiers this logic may have been [...]
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