As was announced earlier today [3], the Cypriot parliament was set to vote on the country's deposit confiscatory bail in, a vote that was largely expected to pass. Moments ago it did.
- CYPRUS LAWMAKERS APPROVE BAILOUT IN PARLIAMENTARY VOTE WITH 29 VOTES IN FAVOR, 27 AGAINST
And with that, the resulting depression that is about to be unleashed in Cyprus is nobody else's fault but of the country itself, its politicians and ultimately, its people. So dear Cyprus, you may have a 20% GDP drop every year for the foreseeable future and triple digit unemployment, but at least you will have the EUR and your Stockholm Serf Syndrome.