Once trust is lost it is very slow to recover. For now, much of Europe is acting as if it believes Cyprus is a "one time" thing? But isn't that what we heard about Greece? Who is next? Italy?
In an article on Handelsblatt the chief economist of Commerzbank says: Italy should bring a unique wealth tax.
It is a myth to talk of crisis-strapped states. Even the German Institute for Economic Research (DIW) and the chief economist of Commerzbank, Joerg Kraemer says the numbers suggest a different view.
Kramer relies on...