Peter
Gumbel
Reuters
5:52 a.m.
CDT, March 22, 2013
The
reaction to this weekend's European Union bailout deal for Cyprus has gone
from initial shock to rather predictable condemnation. "Europe
botches another rescue," ran the headline on an editorial in the Financial
Times. "It's as if the Europeans are holding up a neon sign, written in
Greek and Italian, saying ‘time to stage a run on your banks,' " Paul
Krugman, the economist and New York Times columnist wrote on his blog.