ECONOMICS - Luxembourg Has A Very Serious Case Of 'Money Center Debt Syndrome'

What an interesting week. Monday brought a wave of righteous indignation over the thought of a haircut for Cypriot depositors, on Friday everyone is cheering the idea that deposits over E100k are going to gets 'faced' for 40%. The Cyprus story is far from over, but there are some lessons so far: - European leaders have shown their hand. They are more than willing to stiff depositors when pushed to the wall. - The deposit level of +/- E100k has be ...

http://www.businessinsider.com/europes-money-centers-2013-