The Hill’s Congress Blog: “Cypriot bailout and use of market mechanism is commendable”

“The European Union, European Central Bank and International Monetary Fund have made a good compromise use of market forces to have the owners and uninsured depositors take a loss for their misjudgments in risky investments and thus avoided imposing a deposit levy totally rejected by the people and the Cypriot parliament,” writes Surendra K. Kaushik, a professor of finance at Pace.

“The European Union, European Central Bank and International Monetary Fund have made a good compromise use of market forces to have the owners and uninsured depositors take a loss for their misjudgments in risky investments and thus avoided imposing a deposit levy totally rejected by the people and the Cypriot parliament,” writes Surendra K. Kaushik, a professor of finance at Pace.

Read his op-ed on The Hill’s Congress Blog.

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