TMM continue to be staggered by the ineptitude of the Eurocrats' response to the Cyprus issue. Haircutting deposits is not something to be done lightly and making a mockery of deposit insurance is really, really dumb . I mean, that's what central banks are meant to do, amongst other things, right? TMM understand the tempation to give a "number three back and sides" to a lot of fairly iffy Russian cash but, once again it has to be impressed on Germany that crises are a lot more "Run Lola Run" or "The Great Escape" than "Faust": the point is to get out with minimum collateral damage first and mete out punishments and lessons in morality second and hope you can regulate them out of existence afterwards.
There has been a lot of ink, bits and bytes spent on this already so TMM are going to comfort themselves with some online shopping and hope that the Cypriots at the bare minimum manage to not make deposit insurance worthless.
We have recently discovered one can make custom dart boards at Zazzle, what do you think?
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