The decision reached by the Cypriot House of Representatives on Tuesday to reject a bill that would have imposed a haircut on bank accounts is undoubtedly a landmark decision and possibly the beginning of a major adventure for the eurozone itself.
European governments handled the situation in an amateurish and unacceptable way. Meanwhile, Cyprus’s political leadership must display great responsibility and composure to avoid a large-scale disaster. The latter also applies to our own leaders in Greece, a country which will not remain unaffected by developments in the neighboring island country.
This is hardly the time for televised bickering and political double-talk. The situation requires that all responsible political leaders gather around the table and map out a national strategy. We are entering a particularly unpredictable and difficult period and what lies ahead calls for a national understanding.