€ypern

Man kom frem til noget mere fornuftigt. Men der vil nu blive indført begrænsninger på kapitaludførsel, og det er ikke til at sige, hvornår bankerne åbnes igen. Krugman:

Having your own currency raises transaction costs and makes business more difficult; but giving up your own currency means that you have to adjust to overvaluation through deflation, which is much more costly than devaluation. At this point, however, Cyprus has made doing business very difficult via capital controls, while retaining its inability to deal with overvaluation via currency realignment. So it has created a pessimal currency area, offering the worst of both worlds.

Med andre ord burde de trække sig ud af euroen. Det vil de bare ikke, ligesom alle andre svagere eurolande. Det er bizarro: De stærke lande, der høster store fordele af euroen, vil ud, mens de svagere lande, der betaler prisen, vil blive.