Nouriel Roubini : A sensible Cyprus deal would have bailed in sov creditors, large depositors above 100k (not small ones) & senior unsecured bank bonded debt
Rather than small insured depositors the bailin should have also included senior unsec bank bond creditors & the sovereign creditors
I wrote in February that a bailin of bank creditors was indeed more likely than that of the sovereign ones Cyprus mistake wasn't the bailin of large depositors. Rather the bailin of small insured depositors & lack of bailin of senior unsec credtrs - via twitter
