The head of the eurozone group of finance ministers, Jeroen Dijsselbloem, said there were no apparent signs of increased withdrawals of savings from peripheral to core countries in the region as a result of the Cyprus crisis.

BBC: Business

When unification came, it was led not by the major city-states of the past but by the half-French region of Piedmont, an area peripheral to Italian history and with a long record of rounding up and executing Italian nationalists.

NEWYORKER: Booted

However, Credit Suisse does see the risk of deflation in the peripheral countries of Europe because of loss of competitiveness in the region and the degree of fiscal tightening that will be needed to stabilize government debt to gross domestic product.

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