Cyprus Crisis Outcome Primary Focus for Week Ahead
The European Central Bank’s threat to cut off Cyprus’s access to the Emergency Lending Facility (ELA) on Monday will be the main focus of investors early next week. Cypriot lawmakers begin debate today on legislation to unlock bailout funds and prevent a financial collapse. The Cyprus bank holiday is scheduled to expire on Tuesday and a failure to reach terms will probably result in an intensification of the financial crisis and a possible run on the banks.
Click here to continue reading.