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  #1995 (permalink)

London, UK
Trading Experience: Beginner
Platform: NinjaTrader, home-grown Java
Broker/Data: IB/IQFeed
Favorite Futures: EUR/USD
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Posts: 1,085 since Dec 2010
Thanks: 471 given, 782 received

That's the plan - austerity if you want to stay in the Euro, which they do, so that the rest of their deposits don't devalue with a new currency. Some depositors there - pensioners etc, not just Russians - have already lost about half, they'll cling on to the rest for dear life. I don't believe that Germany (who basically control what happens) will let Cyprus (or Greece) go into a decade long depression. The bankrupt countries have to show that they have purged themselves, and then I assume the rescue investment will come - like the Marshall Plan that got Germany on its feet when all they had was rubble and devastation at the end of WWII.

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