Yellow Alert from cnbc:
After all, this is not the first time a relatively small economy has threatened to trigger a pan-European domino effect ranging from
Ireland, to Greece
"The Cypriot case has all the ingredients to raise questions about the consistency of the euro project again, comparable to -albeit possibly less dangerous than - the Grexit hysteria less than a year ago," said economist Martin Lueck from UBS. The country desperately needs 17.5 billion euros in bailout funding to recapitalize its troubled banks and pay its bills on time after taking a hit from its large exposure to the Greek economy…..