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The financial crisis in Cyprus has got worse. The parliament in Cyprus has overwhelmingly rejected a controversial bank bailout deal and most MPs voted against the plan and the rest abstained1.
The deal to impose a one-off levy2 on bank deposits sparked outrage3 right across the country, but there is little time to come up with any new deal. Economists4 say it's vitally important that EU policy makers5 act to stop customers from creating a run on the banks.
“That's the last thing that the policy-makers in the Europe want to see. And so what we are going to see here is that European Central Bank may well step in and directly provide capital to banking6 system in Cyprus and ensure that they are not necessarily going to add to the government debt as part of this bailout package.”
Now let's see how the market felt as a result of that ongoing7 uncertainty8. The Dow Jones was up a touch, but the Nasdaq and S&P 500 went in the opposite direction. The London FTSE also lost about a quarter of a percent.
To commodity prices.
West Texas Crude is trading at 92 US dollars a barrel. Tapis is at 115 and gold is still marching up with 1612 an ounce.
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1 abstained | |
v.戒(尤指酒),戒除( abstain的过去式和过去分词 );弃权(不投票) | |
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2 levy | |
n.征收税或其他款项,征收额 | |
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3 outrage | |
n.暴行,侮辱,愤怒;vt.凌辱,激怒 | |
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4 economists | |
n.经济学家,经济专家( economist的名词复数 ) | |
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5 makers | |
n.制造者,制造商(maker的复数形式) | |
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6 banking | |
n.银行业,银行学,金融业 | |
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7 ongoing | |
adj.进行中的,前进的 | |
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8 uncertainty | |
n.易变,靠不住,不确知,不确定的事物 | |
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9 sterling | |
adj.英币的(纯粹的,货真价实的);n.英国货币(英镑) | |
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