Patient readers: Stupid and evil Verizon, continuing its campaign to punish copper users in buildings that they will not ever upgrade to fibre, has caused Yves’s internet connection to #FAIL yet again. Hence we may be one post short this morning. –lambert
SF Zoo tiger cub’s 1st public appearance San Francisco Chronicle (BS)
A convincing story can restore growth FT. Clap harder, Mr. Narrative!
Bank shortfall looms Telegraph. Anarchy in the UK….
Cyprus agrees €10bn bailout deal FT. “The plan does not need approval from the Cypriot parliament.”
Cyprus Salvaged After EU Deal Shuts Bank to Get $13B Bloomberg. “Bowing to demands to shrink its banking system.”
Crisis averted – for now: Cyprus gets £8.5bn bailout after EU finance chiefs agree to rescue plan following last-minute negotiations Daily Mail. “The diplomats also did not elaborate on how much large deposit holders would lose.”
Cyprus Popular Bank Unsecured Depositors to Contribute EUR4.2 Billion to Rescue Package -Eurogroup Dow Jones. “No ‘fixed date’ for the reopening of Cyprus’ banks.”
Do Capital Controls Mean Cyprus Has Already Left the Eurozone? Tim Duy’s Fed Watch
The eurozone after Cyprus Gavyn Davies, FT
The broken Euro Coppola Comment. “If [The Troika] can bully one state into imposing capital controls in clear breach of the principles of the European Union, and in so doing destroy the integrity of the single currency, then it can do it to others.”
Cyprus Crisis: A Triumph For Russian Isolationists Testosterone Pit
UPDATES 15:30 GMT RS
Russia to make a move? Reuters
Doesn’t sound like it. Bloomberg
UPDATES 7:17 GMT LS
Mr. Market has a sad.
Italy Roiled As Cyprus Precedent Casts Shadow on Banks, Rating OnlineWSJ “For the first time in Europe’s five-year-old debt crisis, depositors will have to shoulder some of the burden of bailing out troubled lenders.” To minimize risks, all depositors should move their money to the safest bank, of which (by definition) there can be only one. That would be the Post Office bank, under socialism. Can we just cut to the chase, please? Ha ha only serious! –lambert
Equities give back early gains FT. “[C]oncern that the deal might turn out to be a model for resolving future banking crises in the region.”
Japan breaks China’s stranglehold on rare metals with sea-mud bonanza Ambrose Evans-Pritchard, Telegraph
As Obama signs sequestration cuts, his economic goals are at risk WaPo. Oh, please. The kayfabe is stone obvious.
NRA gains upper hand on Obama The Hill. More kayfabe.
Obama Energy Pick’s Gas Study Faulted Over Industry Ties Bloomberg. Shocker!
A Republican Divide in Sharp Relief National Journal
From Detroit to Cyprus, Banksters in Search of Prey Black Agenda Report
Shown No Mercy in St. Francois County Written Word, Spoken Word
Yale Moves To Combat ‘Historic’ Sexual Misconduct Rates Hartford Courant
Interview with a writer: Jaron Lanier Spectator
Antidote du jour (furzy mouse):