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APR 01, 2013 - Business Insider

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The Bailout Of Cyprus Was Another Big Win For Hedge Funds

One of the aspects of the Cyprus bank bailout deal hatched by the EU and the Cypriot government in March that has been noted as a big positive by analysts across Wall Street is the fact that it won't hurt the sovereign's creditworthiness in the same way it would if deposits weren't used to fund the bailout. The chart below, from Morgan Stanley, is a simple illustration of the argument. Restructuring experts Lee Buchheit of Cleary Gottlieb and Mitu Gulati of Duke Law School put it this way: Cypriot sovereign bonds will emerge unscathed. The next bond maturing on June 3, 2013 in the ... Read More

Tags: The Bailout Of Cyprus Was Another Big Win For Hedge Funds,  Euro Latest News