As Nancy says, “to find out what’s in it.”

The single biggest fact you need to know about Cyprus is summed up by Kevin Drum’s admirably pithy headline: Cyprus needs to lay its hands on one-third of its GDP by Monday.  Otherwise, the island nation’s banks are insolvent–and since a surprisingly large fraction of its economy seems to consist of selling bank accounts to Russians, that presents something of a conundrum.

via Cyprus is Imploding, So Why Aren’t Markets Freaking Out?

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