The events in Cyprus have given us an opportunity to re-learn some valuable lessons.
Lesson #1 – Do Not Trust Politicians
Nicos Anastasiades, the current president of Cyprus, had made it a campaign promise during the previous election that bank deposits would be safe. Like nearly everything a government official will tell you, the opposite is usually true; Anastasiades’ promise turned out to be worthless. To put salt in the wound, it has been alleged that Anastasiades tipped off his close friends about the impending crisis. According to Italian media, they were then able to move 4.5 billion euros out of the country in the week before the banks closed. Continue reading “The Top 4 Lessons of the Cyprus Debacle You Shouldn’t Have to Re-learn”