New Acronym

To TBTF we must apparently now add its opposite, TSTM. Too Small To Matter. Apparently Cyprus is TSTM according to the wise men such as Paul Krugman. But while it may be an island geographically, it is not an island financially. If the Cypriot banking system is allowed to fail, the consequences may be felt far beyond its coasts, and indeed far beyond the Mediterranean. Banks are like dominoes – if one falls over, it is likely to take others with it. Be careful out there.

Post a comment or leave a trackback: Trackback URL.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: