Cyprus Crisis Day…3…4..?

Ok – well whatever day it is.

The first half of today (GMT) saw the EUR rise up like it was on a ski lift this morning DESPITE bad data from Germany which made it plunge down fast then promptly turn around and carry on it’s upward SKI lift movement. However, I get the feeling that at the level it’s at now (12:20 GMT) it’s about to enjoy a lovely ski down the hill.

Russia has said they will not help Cyprus (clicky), the EU seem unwilling to help and have come like debt collectors calling so now Cyprus has gone back to levying savers and investors for the money as a last option. Which will cause….a run on the banks! Or ofcourse poor little Cyprus goes bankrupt.

Interesting report from BBC (clicky)

Ok – USA Session started…now what…?

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