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Why the EU Wants to 'Bust' Cyprus Banks

Friday, 22 Mar 2013 | 6:30 AM ET

Simon Maughan, financials sector strategist at the Olivetree Financial Group, tells CNBC that problems in the Cypriot financial system are not new and that the only way to deal with the multi-year political stand-off between the EU and Cyprus is to "bust the banks".