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Breakingviews: Muted Markets Loud on Cyprus

Monday, 18 Mar, 2013 - 04:27

Mar. 18 - Investors did not seem much moved by the news of a Cypriot bank raid. Don't mistake that calm for equanimity, says Breakingviews.

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Want you to market still speaking out about Cyprus and can Europe convince us that a bank Levy of separate scandal is a one off from joined by. Chris -- I'm obviously there are a number of ways to approach historian and breaking abuses as approached it from from several angles so -- -- with. The market reaction. And your saying. The sanguine nature of this reaction to speak one. Offers from what our prayers and there was an initial. Fright in in phase he's an Asian markets. Reacted very nevermind that I ST if you look in Europe today. And it's always have looked toward -- time in the markets markets and this thing. This is essentially. A small member of the year of the year is and with relatively small problems no food pricing in. Contagion I think the Euro was up imported. Verses the Paula. European markets and that is that he moves in stock markets say. To democracy are few places that looks like investors kind of pricing the -- I am rubber co make makes the point a very good point that that European equities -- this hefty discounts. Test today US and Japanese as of this. Just across our president has already. With -- -- regulations and in your -- really pretty well christendom and -- now. And shooting up in the states and and USA Tuesday and not seek. Say that was already have already funds that the US fun romances. Well. Buying up European if you see how we. Get back in fact is that. Good value. You're was offering it and your post that you European prices will even factory influence happen. Obviously a big part of this reaction to reaction is is is a belief that what happened in Cyprus consent Cyprus and it's a one off and this is another piece that. -- -- -- Has written. He believes it can stay silent house. Well there there has a clear case to make it even what. This is sacrosanct. Principle that you don't touch people's decisions has been violated it. That it really is a worn off their very unique political dynamics around Fox's situation. Ultimately thought profound choice to make it was going to. It. -- who's gonna rave. The savings accounts to ought to have to fund this by a -- And it was a gimmick if only for really high net worth individuals will have it was -- -- Hit a whole lot. That this is an app to beat her and along. Political questions and it whether it -- it the offense and Russian interest in particular moment brought some deposits and insular personal sixty. Ultimately it didn't want to stay with an awful commercial that's enough fun for -- -- our decision. And the the oh IMF and your communities to be that went along with -- they can you didn't wanna on the mind. The new government in Cyprus a few months. Politics provide help -- it very hard to see. Those same political dynamics. Elsewhere in the and the other struck -- years than. Memphis. There is the -- the trouble is of course that. If you. European leaders getting. It never again this will not happen ever again that we a moment of positive. -- you believe that and it's probably true that his company it's true that an opportunity. If they -- Four before panic. -- Chris many things about so that's a couple of -- that from breaking news I'm gonna talk to achieve good Dixon at twelve so see his -- sound today. Eyes entitled Europe can make the case rather sorry not that's not his -- his visas and -- Cyprus. Deposing -- sense bad precedents and that's what you gasses that 1230. If you watch our US show twelfth at least and 1630 GMT. I'm Axl Rose is choices.

Breakingviews: Muted Markets Loud on Cyprus

Monday, 18 Mar, 2013 - 04:27

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