08 Apr 2013

The Meaning of Cyprus: Moving towards banking union?

Daniel Gros

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While acknowledging that Cyprus is too small to matter for global financial markets, this Commentary finds that its case could turn out to become a very important precedent for the way European policy-makers deal with future banking problems and the plans for a ‘banking union’.

Daniel Gros is Director of the Centre for European Policy Studies. This Commentary was first published by Project Syndicate on 5 April 2013, and disseminated to newspapers and journals worldwide.

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