Cyprus Crisis and Eurozone Alarm

A quick round up of relevant reports:

Wall Street Journal report

Spiegel Online report

Eurozone Alarm (Reuters)

The Economist

John Psaropoulos, EnetEnglish

New York Times

Cyprus drowns, the sharks circle

New Plans (Kathimerini)

Cyprus Mail

Key Players, EnetEnglish

Piraeus Bank buys local branches in Greece

BBC Update

Analysis by Chris Morris, BBC News, Nicosia

"The eurozone is really turning the screw on Cyprus, and it's being led by Germany.

The message is crystal clear - your economic model has to change. They will no longer accept the idea of a national economy within the eurozone that is dependent on its reputation as an offshore tax haven.

There is huge irritation with the way the Cypriots have handled things, and that has led to the imposition of deadlines which mean big decisions need to be taken very quickly.

The cost of cleaning up the Cypriot banking system must be borne by investors in the Cypriot banking system - like it or lump it".

And from the Keep Talking Greece blog:

"I have the feeling Greece tries to steal the media focus currently busy with Cyprus...Maybe Greek authorities were alarmed to hear all these Cypriot citizens demanding “catharsis” for those who threw the country into such an economic crisis".