This imbalance might have been sustainable had the country two largest banks not made loans to the Greek government worth 160 per cent of Cypriot GDP. It has never been clear whether that risk was taken out of ethnic solidarity, or from a presumption that the Greeks knew what they were doing. But in any event, it was disastrous.»This story was originally published on Mon Mar 18, 2013 6:32 AM EDT..
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