Utopian decoupling for Cyprus rescue
The ever resourceful Megan Greene tries its pen in an effort to offer a solution to Cyprus deadlock. The austerity methodology is proven a spiral to an inevitable default so the only theoretically sustainable way through would be the exit from the Euro. Still this has to be agreed upon by the Bail-out Institutions. Since a unilateral exit would lead to a disorderly default with catastrophic consequences all has to be negotiated with the troika. The author indicates that such a move could cost the ECB to lose up to 14 billion Euros in Emergency Liquidity Assistance. So who is going to agree? The TINA principle (There Is No Alternative ) was always a bad principle to follow and the author makes good effort to provide options.