Yesterday we discussed why we disagreed with the last week's Troika proposal. But since it is easy to disagree but harder to propose something to do, today we analyze what appears to be the latest deal on the table and propose three alternatives of our own, noting that we are working off nothing more than public data. Our strong preference, if it is achieveable, is to accomplish our Scenario B which preserves our long-standing relationships with the EU and Russia and our reputation for rule of law and predictable treatment of issues under long-standing principles of common law. It is the right solution.
If Scenario B is not achieveable with our partners, however, then Cyprus needs to be equally protective of its interests (as they are of theirs) and move fearlessly to Scenario C. This is not a time for muddled thinking -- Cyprus should be clear-eyed about the implications of its decisions as this week will determine the rest of its decade economically...
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