Econintersect: Former Treasury Secretary (Clinton administration) Robert Rubin does not see the “settlement” of the Cyprus crisis as resolving anything in the longer term. The process revealed that the Eurozone (E-17) and the larger E-27 (EU) have no process for managing bank failure. Rubin summarizes the problems as he sees them in a three-minute YouTube video, accessible after the Read more >> jump.
[Click Read more >> to access video at YouTube.]
Robert Rubin is co-chairman of the Council on Foreign Relations.
See also from the Council on Foreign Relations:
- The Eurozone in Crisis (Christopher Alessi)
- Cyprus Reopens for Business: Now What? (Robert Kahn)
Sources:
- Cyprus’s Bailout: Three Things to Know (Robert Rubin, Council on Foreign Relations, 27 March 2013)
- Cyprus’s Bailout: Three Things to Know (Robert Rubin, YouTube, 27 March 2013)
