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Some economists have long decried the existence of so-called “dark pools,” or off-market trading exchanges that are beyond the jurisdiction of federal financial regulators.
The economic effects of the European Union-sanctioned bailout of the Cypriot financial system are already being felt, according to reports from the Cyprus media as well as international sources.
During the last several years, there has been a slow-but-steady growth in the interest in so-called virtual currencies.
A report published on March 20 by Knapp-Track, a U.S. market analytics group, showed a 5.4 percent reduction in sales at American restaurant chains.
The Wall Street Journal’s Michael Casey argued in a recent article that the Cyprus bank rescue blunder exposed a lack of fresh ideas needed to tackle the ongoing sovereign-debt issue.
Earlier today, parliamentarians in the island nation of Cyprus overwhelmingly rejected a proposed law that would have imposed a levy on depositors in the country’s troubled financial institution.
A proposed “bail-in” of financial institutions in the tiny European Union nation of Cyprus has plunged the global economy into a period of doubt and dismay, following massive public outcry over what is essentially a wealth tax on Cypriot deposits.
According to a report by Bloomberg News published on March 13, several Wall Street firms have raked in nearly $500 million since 2005.