The EU has thrown Cyprus to the wolves

The European Union’s demand for Cypriot funds will ripple across the continent, stirring Europe’s far right and becoming a major turning point in the campaign to return to national currencies.

John Lennon’s best line in a lifetime of song-writing was “life is what happens when you’re busy making other plans”. I had planned today to write about the excellent Atlantic Monthly The Economy Summit 2013 conference I spoke at in Washington on Wednesday, where it seemed that senior figures in the US were finally starting to realise that private debt, not public, was the main game in a debt-deflation.


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