Cyprus is the latest eurozone country to receive a bailout to save its troubled banks. But the last-minute deal to stave off bankruptucy and a disorderly departure from the euro creates many more problems for Europe. The way the crisis has been managed raises questions about whether the EU authorities have a clear and consistent vision of what to do next.

CALM of a sort has been restored in Cyprus with a last-minute 10 billion euros bailout resolving its immediate banking crisis. But it leaves huge question marks over the future of the Cypriot economy, the euro and the impact on other eurozone countries, with the likelihood that a bank bailout will be followed by bailing out the count...

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Professor Enrico Colombatto
The euro-crisis has shown that governments are unwilling to let banks fail. The authorities have always claimed that the European banking sector was healthy and know that a bank run would reveal that the deposit-insurance guarantee is a bluff. They fear the consequences of a systemic collapse
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