"Cyprus is too small to fail. Look out for contagion."
Solid 2 minute clip.
March 25 (Bloomberg) -- Columbia University Professor Dr. Robert Mundell discusses the banking crisis in Cyprus. His comments on Italy are not shown in this clip (I found them in a much longer 22-minute version of this interview) but are highlighted by Sara Eisen, as Mundell's greatest fear.
Savings accounts in Spain, Italy and other European countries will be raided if needed to preserve Europe's single currency by propping up failing banks, a senior eurozone official has announced.
Sara Eisen bonus clip:
Start watching at the 1-minute mark.