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Krugman himself is uncharacteristically hopeful that the resolution will involve kicking offshore depositors in the teeth, which he thinks is the right way to resolve this and achieve a semblance of an Iceland-like recovery. He'd feared that the Cyprus govt. would resist, as they still seemed hopeful of preserving the island's status as a tax haven for Russians.
Re: DD's game
http://ftalphaville.ft.com/2013/03/22/1435062/cyprus-just-pop-the-red-pill-please
(You may need to register (for free) at the Financial Times.)
Krugman himself is uncharacteristically hopeful that the resolution will involve kicking offshore depositors in the teeth, which he thinks is the right way to resolve this and achieve a semblance of an Iceland-like recovery. He'd feared that the Cyprus govt. would resist, as they still seemed hopeful of preserving the island's status as a tax haven for Russians.
We'll see.