Zero Hedge tries to make sense of the latest Cyprus bank deal.
"Deposits below the EU deposit-guarantee ceiling of 100,000 euros will be
protected, and a loss of no more than 40 percent will be imposed on uninsured
depositors at the Bank of
Cyprus, two EU officials said. Uninsured depositors at Cyprus
Popular would largely be wiped out, two other officials said."
How will the big depositors take this news? That's the story of this week.
UPDATE: Part of Pat's Monday roundup.