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-- this whole idea of taxing depositors set a dangerous precedent.
It does innocents die and certainly I mean if you look at Kuwait to reignite Euro zone crisis this was a good way to do it.
I'm but I think the point is that you can get away with this -- Cyprus because it's it's a small economy its merits of GDP sites -- years and it's Fannie -- it -- Spain and Italy.
It would be different -- -- and you get away with it that so I don't think you'll see erections in this yet in Europe.
Yet being -- where there exposed and Chris what happens if the -- parliament doesn't pass this.
It when that case -- -- in the unknown unknowns and it's elected they will open of course if they say no the Euro zone and the ECB -- have to go back to the drawing board and find some other sort of amenable solution the key point for markets is that would -- uncertainty with perhaps more selling in the mean time.
Chris -- to keep people from running on the banks -- this.
Well I think is taking is key to -- that yes they've been imposed this on deposit tax in Cyprus but they can't do the same across the -- years and without risking some major eruptions with governments in saint Rome.
And the trades suddenly he's emphasized this a one off and he's on much superior -- And I hope people hopefully people take some comfort -- that that's procedure market analysts that I do we appreciate -- I think you.
Thanks and of course Asian markets for the first your react to this news out of cypress let's go to Dow Jones assistant news editor Jeffrey wrote about.
Who joins us by phone now to talk about how they did a good morning Jeff take -- -- some of his reaction that we're seeing.
Louis so we hadn't asked her by declines across Asia trip biggest decliners letter word came -- -- Nikkei was up about 2%.
Which lay out proxy for global approach and -- expectation which also Boe up 2% big thing for investors in the drought duration one -- idea of this being the first time that pot holders.
Have to contribute to a bailout -- announced -- up provoked.
Investors don't like this deal but it would -- -- more effect a collapse of its space and it did.
All -- -- and we have another level of uncertainty about diapers expect beat declines.
Today to just -- the beginning.
-- neutral on the big development China average -- home prices in China grew sharply in February.
-- -- -- -- -- -- Collectively.
To hit a housing prices which abroad too hot they implemented a 20% capital gain tax.
Her -- electric -- and -- -- -- other measures other did or last month brokered the worker mark triple collapse that you and I out of India.
There -- out of money laundering against three of the biggest -- The Reserve Bank of India is now looked into it and this could rattle the entire article Specter we're just the beginning of understand exactly what historians.
Aren't a lot going on today that -- -- -- Dow Jones we appreciate -- Jeff thanks.
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