The tiny Mediterranean island nation of Cyprus has fallen on some hard times lately.
The bleak financial prospects facing Cyprus has resulted in the govenment having to come up with capital control measures to prevent runs on banks, and keep investors from taking money out of the country. Worse, depositors in Cypriot banks who have more than 100,000 euros in the bank could soon see 40% of their funds converted into bank shares, while those with less than 100,000 euros will not lose any funds – but face limits on what funds they can access.
It’s all looking bleak, and the Cypriot situation has all of the Euro zone panicking. What should Cyprus do? According to one commentator, let Apple buy them.