Cyprus 'Hell'
Cyprus is tiny. Its economy accounts for about 0.2% of the eurozone's GDP. All weekend long, traders have questioned why a bailout for a country the size of Rhode Island might affect the U.S. stock market. Some pundits are treating this news as if it heralds a global financial disaster, while others scoff at the tiny nation's financial turbulence. What's the real deal?
The good news is Cyprus won't necessarily bring U.S. stocks down. Overnight, the euro hit a new low for the year in thin trading. That's great news for those of us who are short the currency, as I indicated here. Stocks can continue to rise, even as the euro continues to fall....595 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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