12:31 PM, Mar 17, 2013 • By GEOFFREY NORMAN
Recall how improbable it seemed that the tiny nation of Greece might bring down the Euro and cripple the world's financial mechanisms? And, then, the story – if not the danger – seemed to fade away. Well, it now appears that the even more insignificant island of Cyprus may provide the spark. As Liz Alderman reports in the New York Times:
Great catastrophes can begin in unlikely places. Bismarck famously predicted that the great European war would likely be ignited by "some damned foolish thing in the Balkans."
Could the collapse of the euro and, even, the EU be triggered by the bailout of the banks of some island in the Mediterranean?
Zero Hedge is, predictably, paying close and mordant attention.