And WHYYYYYYYY would Cyprus take that money? To continue to be held hostage by the Euro until when? Forever seems to go a pretty sure answer to that.
Even if this Lehman-type event were to be OVER, it just sprung a cloud of uncertainty over everything... if this wer a normal market it would go ahead and take profits and digest a little bit... but since it is all built on a house of cards, could very likely just continue up for the same reason it has the past four years: nobody is buying.
...we will see... I'm fading this "SAVE" by the ECB
How are they going to provide liquidity when every Cypriot will be withdrawing thier money when the bank opens. Is the ECB going to provide the money for every citizen while the bank is sure to collapse since nobody in their right mind would bank with them ever again. If the financial sector dies in Cyprus, there goes 25% of the economy. Cyprus should leave the Euro and nationalize the banks and show the rest of the PIIGS countries how this can be done.