The possible Russian solution for Cyprus
It has a certain plausibility to it. My two objections are listed at the bottom. The ECB ELA doesn't work like that, and the ESM unlikely to be convinced. The ECB Risk Control Framework has been used a lot as a simple instrument of political control in the past ...
@faisalislam I don't think this is true. ELA can be vetoed by a simple majority on the Governing Council for any reason or none
@dsquareddigest yep I haven't checked this. That was the understanding of someone familiar with some Cypriot thinking.
