Cyprus can't print euros, the US government can print dollars - and it will, as many as needed to keep the banks afloat. The threat facing US bank depositors is not default or seizure but rather inflation. The same with Japan, Britain, Switzerland. Euroland is a different matter. If I had bank deposits in Italy, Spain...I'd be thinking about making a change.
"Alas! I believe in the virtue of birds. And it only takes a feather for me to die laughing."
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