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.
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Merkel Signals Shift in U.S.-Europe Relations
47:27 - German Chancellor Angela Merkel indicated strained relations between Europe and the United States ion comments Sunday in Germany following the Group of Seven meeting. Bloomberg's Andrew Barden reports on "Bloomberg Surveillance." (Source: Bloomberg)