Apple Inc. (AAPL) & Eight Fascinating Reads

Dismal
The Economist surveys the Cyprus economy months after its banking collapse:

With access to bank accounts still restricted and capital controls in place, Cypriots are hoarding money. Trade credit has dried up, choking business activity.

New-car sales plunged by 59% in the year to March. Sunseekers tend to shun crisis-stricken countries: the number of tourists in the first quarter was 10% down on the same period of 2012. And this is just the beginning. An economy already in recession — GDP fell by 2.4% last year — is about to nosedive, undermining the assumptions on which the bail-out was based.

Enjoy your weekend.

The article 8 Fascinating Reads originally appeared on Fool.com and is written by Morgan Housel.

Fool contributor Morgan Housel has no position in any stocks mentioned. The Motley Fool recommends Apple. The Motley Fool owns shares of Apple.

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