and as I am a humble follower and nurture a deep respect for the renowned economist I completely agree.
Hacking off great chunks of money from deposits was a desperate move, a drastic one and, although hidden under the veil of European democracy, it was pretty authoritarian. So, if one (aka the government) has decided to take one drastic measure, which on its own cannot solve the long term problem, why shouldn't the same "one" take a measure that could, in the end, yield real long term profit for the Cipriot economy.
http://krugman.blogs.nytimes.com/2013/03/26/cyprus-seriously/
Hacking off great chunks of money from deposits was a desperate move, a drastic one and, although hidden under the veil of European democracy, it was pretty authoritarian. So, if one (aka the government) has decided to take one drastic measure, which on its own cannot solve the long term problem, why shouldn't the same "one" take a measure that could, in the end, yield real long term profit for the Cipriot economy.
http://krugman.blogs.nytimes.com/2013/03/26/cyprus-seriously/
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