Cyprus Banks Closed Until Thursday; "Solution is Feasible, Can Be Extrapolated to Spain", Says Spanish Economist; Lies of the Day

Direct robbery of Spanish citizens would net Spain about €120 Billion according to economist Niño Becerra who says ” Cyprus Solution is Feasible, Can Be Extrapolated to Spain ” Santiago Niño Becerra, Professor of Economics at the University Ramon Llull in Barcelona, says a tax as imposed on Cyprus in exchange for bailout, would be possible and that “it is very clean, unlike a freeze all balances, which would be a mess.” Through his twitter account, Niño Becerra says it would be more painful for Cypriots if “the bailout were to occur in the form of public debt.” The Spanish government was quick yesterday to claim the Cyprus solution was not applicable to other countries.

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Cyprus Banks Closed Until Thursday; "Solution is Feasible, Can Be Extrapolated to Spain", Says Spanish Economist; Lies of the Day