How cyprus went wrong with the west and east europe.
Cyprus foretells Europe's splintered fate
Extract
The Cypriot parliament was right to reject this mad deal. But the Cypriot government then committed three subsequent blunders.
The first was the decision by President Nicos Anastasiades to seek help from Russia. Instead of working with the eurozone, he worked against it. The Germans, in particular, saw this as an openly hostile move. It was also ill-judged because the Russians rejected the offer.
The second was the decision not to communicate with the European finance ministers and the euro working group for three critical days last week.
The third was the Cypriot government’s proposal on Thursday to create a sovereign wealth fund backed by a raid on the pension fund and other state assets. On Friday Angela Merkel swiftly dismissed it.
Read more: http://www.businessspectator.com.au/article/2013/3/25/economy/cyprus-foretells-europes-splintered-fate#ixzz2OVfkM7TD
cyprus---the latest, page-5
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