After One Of The Greatest Stock Market Crashes Ever, Cyprus Is About To Crash All Over Again…”Gonna get ugly.”
Mar 27 2013
The Cyprus stock market once had a good run.
Opened in 1996, it reached as high as 5,500 points in Fall 2007. That was just before the country entered the Eurozone.
But right now the Cyprus market is closed indefinitely as a result of the country’s financial meltdown.
And as soon as it reopens, it will restart one of the greatest wipeouts in market history, as TD Securities’ Richard Gilhooly notes in an email sent to clients.
The market’s already fallen 94 percent since the Greek crisis began three years ago.