Cypriot debacle a sign that ‘Troikanomics’ has not worked

Well, a run on the banks, the imposition of capital controls in a eurozone country and the ground cut from under its economy.

Some ‘bailout’. Some ‘partners’. Exiting the euro would have been costly for Cyprus. But not nearly as costly as remaining in a currency union now marked by the exercise of brute economic power and political hegemony.

The ‘Troika’ — peddlers of myths — leaned on Cyprus to such an extent that one of its most senior figures asserted that leaving the euro would have required Cyprus to leave the EU. Who could have peddled that myth?