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>> AUSTRALIA Latest News

MAR 20, 2013 - Zero Hedge

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What Next?

The global capital markets have reacted calmly to the Cyprus rejection of the terms of the 10 bln euro aid package. There is an ECB meeting today, which the Cyprus central bank governor is not attending. The immediate issue is that without an agreement should the ECB continue to allow Emergency Lending Credit be extended to Cyprus banks. It had previously threatened to cut it off as of tomorrow. This was the hard place on the other side of the rock of the conditionality which included a tax on all depositors that Cyprus found itself in over the past weekend. When the post mortem of the ... Read More

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