Europe Video
Efi Xzanthou, a member of Cyprus's Green Party and Parliamentary Finance Committee, tells CNBC that as soon as they open there will be a run on the banks as no depositor will feel safe. |
The Cypriot parliament will today vote on the highly controversial levy on bank deposits, CNBC has been speaking to a number of market experts who all warn that the tax sets a dangerous precedent. |
Steve Keen, professor of economics at the University of Western Sydney, argues that if you destroy the trust depositors have in their bank accounts then you destroy the oil of capitalism. |
Ashraf Laidi, chief global strategist at City Index, tells CNBC that investors, who want to play the Euro without the periphery, should play the Swiss Franc. |
Eugen Weinberg, head of commodity research at Commerzbank, tells CNBC why he expects gold to stabilize, benefiting from uncertainty over Cyprus savings. |
Guillermo Felices, head of European currency strategy at Barclays Capital, tells CNBC why he's bullish on the dollar and on US markets, which will outperform the rest of the world over the next year. |
Mike Reed, partner and senior portfolio manager at Bluebay Global Convertible Bond Fund, tells CNBC that the fact depositors have been hit first and hardest in Cyprus should encourage investors to get out of deposits. |
Liza Ermolenko, emerging markets economist at Capital Markets, tells CNBC why Cyprus' travails are unlikely to have too much of an effect on the Russian economy, although it might startle Russian investors out of the country. |
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Sharon Bowles, British Liberal MEP, tells CNBC why the Cypriot bailout terms are a breach of European directive and single-market principles |
David Nowakowski, senior director of research at Roubini Global Economics and Gabriel Stein, MD of Stein Brothers discuss on CNBC how serious the situation in Cyprus is for the future of the euro zone. |
Raymond Yeung, senior economist, Greater China at ANZ, discusses Chinese growth and inflation expectations, the possibility of monetary tightening and the government's plan to push forward large scale spending. |
Ben Lichtenstein, president of Tradersaudio.com, says the euro has been hurt by the Cyprus bailout news and expects heightened volatility to affect U.S. trading. |
How do you make money in these markets? Here is what some of the experts on CNBC have been saying to us. |
Hugo Dixon, editor-at-large at Reuters Breakingviews, Olly Burrows, senior bank analyst at Rabobank, and Cormac Leech, bank equity researcher at Liberum Capital, discuss the Cyprus deposit levy and its impact on European banks. |
Andrew Goodwin, senior economic advisor at Ernst & Young ITEM Club says that markets would welcome a more measured pace of austerity in the U.K. and that the coming Budget should include short-term measures to kick-start the recovery. |
Alessandro Tentori, head of developed market rates strategy at Citi warns that further uncertainty and data weakness in Italy will bring yields substantially higher in the second quarter and says Spain is in a much better position as a reform agenda has been set. |
Christian Gattiker, global investment strategist and head of research at Julius Baer, tells CNBC that the overall European situation remains in control and that only a very messy parliamentary vote on the Cyprus bailout would prompt him to reconsider his positioning. |
Andrew Charlesworth, fund manager at JLIF discusses his company's results and the government's support for infrastructure, which he hopes to see reaffirmed in the coming Budget. |
Steve Sedgwick discusses the multi-billion dollar deal between EADS and Indonesia's Lion Air, and the potential takeover of M&S by the Qatar Sovereign Wealth Fund. |
Patrick Armstrong, managing partner and director of Armstrong Investment believes the attraction of the Cyprus Depositor Tax is that it will reach foreigners with large deposits and says big corporates should avoid having deposits in euro-domiciled countries. |
CNBC's Julia Chatterley reports from Rome and says people in Italy are not aware of what is happening in Cyprus. |
Peter Chatwell, interest rate strategist at Crédit Agricole Corporate and Investment Bank, says the Cyprus crisis will help bunds rally with yields falling to 1.38 percent in the near term. |
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Lena Komileva, chief economist at G+ Economics, says the tax on depositors will not restore confidence, credit or competitiveness in Cyprus, but should bring back the risk premium for investors. |
Chris Weston, institutional dealer at IG Markets, says there have been a lot of sell orders but he hasn't seen a panic yet on Cyprus's deposit levy. |
Elsa Lignos, G10 currency strategist, RBC Capital Markets, says while Cyprus is bad for the markets short-term, over the long-term things may not be so bad. |
Carolyn McCall, CEO of EasyJet, says the new route to Russia is a result of the consolidation of the airline market, referring to the IAG-BMI takeover. |
Michael Sarris, Cyprus finance minister, told CNBC the deal is a once and for all step, and it compared well with much more serious and grave proposals that were on the table. |
Valdis Dombrovskis, prime minister of Latvia, said Paul Krugman is wrong in his criticism of Latvia's austerity measures and that his country will join the euro on January 1 next year. |
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