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Capital inflows of hot money, the lack of capital controls and the financial crisis in Cyprus

09/21/2011

Capital inflows into Cyprus accelerated after it appeared that Ireland's banking system had serious problems. This happened through demand deposits that could be withdrawn quickly. The problem of volatile capital flows is similiar to that faced by Asian countries in the 1997 Asian banking crisis when capital outflows came at the worst possible time for the banks.

Grouped Articles

A Warning Light to Alert the I.M.F.

New York Times 09.21.2011

Cyprus Heads Toward Exit, Leaving Greece as Last Bailout Member

Wall Street Journal 03.04.2016

Cyprus Capital Controls Come Years After They Were Needed

New York Times 03.28.2013

As Banks in Cyprus Falter, Other Tax Havens Step In

New York Times 03.31.2013


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