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26 Mar 2013
Forex Flash: There is some sense that Cyprus may be a turning point - BBH
FXstreet.com (Barcelona) - Brown Brothers Harriman analysts note that there is a growing sense that Cyprus may be a turning point.
They make the point somewhat reservedly, adding, “We suggest that it is as much as Greece, Ireland, Portugal and Spain have been turning points.” They see that institutional capacity has grown and innovation is forced and this is how the situation evolves. This is how EMU, only partially formed at birth, is developing. “Germany and the IMF have long pushed for bailing in investors and they continue to press their case, when the opportunity presents itself. It is never an all out victory or defeat.”
They make the point somewhat reservedly, adding, “We suggest that it is as much as Greece, Ireland, Portugal and Spain have been turning points.” They see that institutional capacity has grown and innovation is forced and this is how the situation evolves. This is how EMU, only partially formed at birth, is developing. “Germany and the IMF have long pushed for bailing in investors and they continue to press their case, when the opportunity presents itself. It is never an all out victory or defeat.”