Will Cyprus be next to seek a bailout?

If one of its financial institutions were to go to the wall, many IFAs and investment managers would find a large percentage of their international client-base running into trouble. What has tipped Cyprus' financial woes further towards crisis point is the recent munitions' explosion which killed 13 people and destroyed the power plant that supplies half the island's electricity. The damage is estimated at Cy£1.8bn, a sum which places a severe strain on the economy at a time when the banks already face a crisis over the extent of their holdings in Greek government bonds. The Islan...