Tim Harford is speaking about his new book, The Undercover Economist Strikes Back, at Cato at noon on Thursday Jan. 23. I will be commenting. More info and to register here.
If you can’t make it to the Cato Institute, you can watch this event live online at www.cato.org/live.
Here is Cato’s announcement.
The European Central Bank is prepared to cut off funding to Cyprus and let the Mediterranean island succumb to financial meltdown if it has to, confident it has unlimited firepower to protect the rest of the eurozone.
Cyprus propelled the 17-nation bloc into uncharted waters on Tuesday by rejecting a proposed levy on bank deposits as a condition of a 10-billion euro (US$12.9-billion) EU bailout.
Without the aid, much of it to recapitalize Cypriot banks, the ECB says they will be insolvent, and it requires banks to be solvent for them to receive central bank support.