A controlled explosion in Cyprus

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A controlled explosion in Cyprus

While Cyprus reels from a week of turmoil, the European capital markets have once again proved their ability to remain almost unscathed. The breathless reports from Nicosia tell of a banking system in chaos, geopolitical struggles spanning Berlin, Brussels and Moscow, and an emotional rollercoaster for the local populace as they face ad hoc taxes one moment and assurances of safety the next.

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