Faculty News

Prof. Nicholas Economides on the possible impact of the Cyprus bank crisis

Excerpt from BBC News -- "I don't think we'll get to the point in which the governments are going to impose specific rules that you cannot take so much money out. I don't think we're going to get there. But what's going to happen is that people are going to take their money, transfer it to foreign countries, and then the ECB will have to support with huge amounts of money a number of countries -- not only Cyprus but also Spain, Italy, Portugal, Greece."

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