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The Impact Of The Cyprus Bailout On U.S. Savers

Tuesday, March 19, 2013 - 8:16 AM
Cyprus does have a deposit guarantee through the central bank but it is worth little if the entire financial system has collapsed and the country has no money. Should Europe pay off depositors? Probably. But this underscores the fact that the deposit guarantee is only as good as the country that backs it. It also underscores why a country with only several large banks can collapse the entire system if they get into trouble.

The Impact of the Cyprus Bailout on U.S. Savers
ShorebreakShorebreak2,686 posts since
Apr 6, 2010
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