The euro after Cyprus’s bail-out – watch and wait

It's little wonder the euro fell following the news of the shambolic bail-out deal for Cyprus. But is this the start of a prolonged decline, asks John C Burford, or just a temporary blip?

Over the weekend, savers in Cyprus got a grim surprise. The government agreed to levy everyone's bank deposits in order to obtain a bail-out from the IMF and ECB.

A parliamentary vote on the levy has now been postponed until tomorrow.

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John is is a British-born lapsed PhD physicist, who previously worked for Nasa on the Mars exploration team. He is a former commodity trading advisor with the US Commodities Futures Trading Commission, and worked in a boutique futures house in California in the 1980s.

 

He was a partner in one of the first futures newsletter advisory services, based in Washington DC, specialising in pork bellies and currencies. John is primarily a chart-reading trader, having cut his trading teeth in the days before PCs.

 

As well as his work in the financial world, he has launched, run and sold several 'real' businesses producing 'real' products.