Buchheit: Cyprus Could Need a Second Bailout

Mar. 28 (Bloomberg Law) -- The sovereign debt crisis in Cyprus marks the fifth European nation to need a bailout in recent memory, but this crisis is unique because European Union regulators are taking the unprecedented step of taxing bank deposits to finance part of the bailout for the nation's banks. Lee Buchheit, sovereign debt guru and architect of Greece's bailouts, tells Bloomberg Law's Lee Pacchia that despite the drastic measures taken, the endgame for Cyprus might be another round of restructuring. "I'm not sure this is over," says the Cleary Gottlieb veteran.
Tsipras Faces Pressure From Creditors for New Deal
49:07 - Greek Prime Minister Alexis Tsipras faces pressure from creditors going into today's emergency summit in Brussels. German Chancellor Angela Merkel and French President Francois Hollande have warned Tispras that Greece is running out of time to save its spot in the euro. Bloomberg's Hans Nichols and Guy Johnson report on "Countdown." (Source: Bloomberg)
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