By Alexander Apostolides on February 28, 2012

Article in Alithia newspaper (In Greek) : The Cypriot Banking system is NOT collapsing

I have not posted for a long time and now I post twice in a day! This post is the second part of a series of four posts I want to make, the next two being on:
3) Adam Smith and the role of public debt
4) Presenting the a review of the latest work of Dr. Panikos Demetriades, who suggests alternative ownership systems in the financial sector reduce banking problems.

This article was in response the growing scene of anxiety among Cypriots over losses we know that the banks had since the Greek public debt crisis started in 2008. I am not saying that the situation is not serious, but that panic and individual action can make things unmanageable.

Correct leadership and coordination are now needed to stir the financial sector and the economy out of this difficult time. Soon, when the worst is over the questions need to be asked on who was to blame and how to distribute the blame.

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