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To pick up a few billion in exports, we’re now willing to sell anything to anyone. We’re willing to become a tax haven, to have oligarchs and multinationals paying less in taxes than the middle and working classes, to ally with rather unprogressive oil emirates just to get a few crumbs for our foot…

when we chose to share monetary sovereignty and set extremely picayune rules on public deficits

The problem of the day is that Cypriot banks, in effect, don’t have that money anymore: it was invested in now-depreciated Greek bonds and real estate investments that were partly illusory. Quite naturally, the European authorities are reluctant to bail out banks without getting anything in return,…