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Photo Gallery: Helpless Rage in Nicosia
REUTERS

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Photo Gallery: Helpless Rage in Nicosia

Bailout Insights What Cyprus Tells Us about Germany's Character

The Cypriot government was willing to do anything to save its banking industry. Yet Berlin, driven by a deep-seated fear of tax havens, sought the opposite. The resulting deal may have driven a stake through the heart of the euro-zone's much ballyhooed banking union.
Von Tyson Barker
Tyson Barker is director of trans-Atlantic relations at the Washington, D.C.-based Bertelsmann Foundation.
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