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"We might actually have a STD (sell-the-dip) situation brewing" in regards to Cyprus, writes...

"We might actually have a STD (sell-the-dip) situation brewing" in regards to Cyprus, writes Jefferies' David Zervos. Even if the bailout is approved, Thursday's reopening of the banks is going to see billions in withdrawals, he writes. Unless the ECB violates every collateral rule it has, the Cypriot financial system is poised to collapse.
Comments (3)
  • minecanary
    , contributor
    Comments (464) | Send Message
    Be real. The ECB has no collateral rules already....I'll issue bonds to myself, you certify you'll guarantee them - even though you are bankrupt too - and I'll pledge them for Euros. Perfect. They just needed a target small enough and w/non European funds at stake to dry run the bankruptcy scenario before it moves to Spain, Greece, and Italy. Maybe Draghi can whip up a few derivatives quick and make it all better.
    19 Mar 2013, 01:14 PM Reply Like
  • wyostocks
    , contributor
    Comments (8088) | Send Message
    Ponzi would be proud.
    What could possibly go wrong with this?
    19 Mar 2013, 01:21 PM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
    I would be in line getting my monies out if it was me.....this was the stupidest thing they could have done..they just showed the world that stealing is OK with them......
    19 Mar 2013, 01:36 PM Reply Like
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