{"id":7388,"date":"2013-03-19T11:26:51","date_gmt":"2013-03-19T15:26:51","guid":{"rendered":"http:\/\/www.multiplier-effect.org\/?p=7388"},"modified":"2013-03-19T14:42:48","modified_gmt":"2013-03-19T18:42:48","slug":"papadimitriou-on-the-cyprus-crisis","status":"publish","type":"post","link":"https:\/\/blogs.bard.edu\/multiplier-effect\/papadimitriou-on-the-cyprus-crisis\/","title":{"rendered":"Papadimitriou on the Cyprus Crisis"},"content":{"rendered":"<p>Yesterday, Dimitri Papadimitriou joined Ian Masters to discuss the response to the banking crisis in Cyprus.\u00a0 The plan on the table, in which Cypriot banks would impose a deposit tax (9.9 percent on deposits above \u20ac100,000, and 6.75 on deposits below that) in order to gain access to a \u20ac10 billion bailout from the troika, unconscionably makes small depositors pay for someone else&#8217;s regulatory blunders &#8212; and is likely to be ineffective anyway, said Papadimitriou.<\/p>\n<p>The entire episode once again points to the fundamentally unworkable setup of the eurozone, in which each member-nation is (ostensibly) responsible for its own banking system.\u00a0 For more on these deeper structural problems, see this policy note:\u00a0 &#8220;<a href=\"http:\/\/www.levyinstitute.org\/publications\/?docid=1559\">Euroland&#8217;s Original Sin<\/a>.&#8221;<\/p>\n<p>Listen to the <a href=\"http:\/\/ianmasters.com\/sites\/default\/files\/mp3\/bbriefing_2013_03_18b_dimitri%20papadimitriou.mp3\">interview here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yesterday, Dimitri Papadimitriou joined Ian Masters to discuss the response to the banking crisis in Cyprus.\u00a0 The plan on the table, in which Cypriot banks would impose a deposit tax (9.9 percent on deposits above \u20ac100,000, and 6.75 on deposits below that) in order to gain access to a \u20ac10 billion bailout from the troika, [&hellip;]<\/p>\n","protected":false},"author":202,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15,8],"tags":[21,561,560,562,563,301,31,1129,564],"class_list":["post-7388","post","type-post","status-publish","format-standard","hentry","category-eurozone-crisis","category-financial-crisis","tag-bailout","tag-banking-crisis","tag-cyprus","tag-deposit-insurance","tag-deposit-tax","tag-dimitri-papadimitriou","tag-eurozone","tag-financial-crisis","tag-ian-masters"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/7388","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/users\/202"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/comments?post=7388"}],"version-history":[{"count":21,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/7388\/revisions"}],"predecessor-version":[{"id":7409,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/7388\/revisions\/7409"}],"wp:attachment":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/media?parent=7388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/categories?post=7388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/tags?post=7388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}