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Cyprus Bailout

Cyprus President: 'We Became The Guinea Pig Of Europe'

The Huffington Post | Eline Gordts | Posted 11.20.2014 | World

When Nicos Anastasiades won a landslide victory in the country's February 2013 presidential election, Cyprus was facing its worst financial crisis in...

The Money King Is Ruling: Long Live That Forgotten King of Solitude

Efterpie Araouzou | Posted 07.28.2013 | World
Efterpie Araouzou

Probably the island that suffered the most conquests in the history of the world, Cyprus has been once more attacked by another mighty ruler: The King of Money.

Bitcoin: A Brave New World

Tony Mckenna | Posted 07.14.2013 | Business
Tony Mckenna

The idea of a peer-to-peer virtual currency floated across vast swathes of international populations irrespective of borders could well be the next stage in the evolution of money -- its brave new world.

Miner Mike, the Bitcoin Minter

John Pavley | Posted 06.27.2013 | Technology
John Pavley

In 2009, my friend Mike was getting into bitcoin and I remember him explaining the whole concept to me: A virtual currency managed by a peer-to-peer network open to anyone with a computer and uncontrolled by any bank or government.

Cyprus Rescue: From Bad to Worse

Mohamed A. El-Erian | Posted 06.12.2013 | World
Mohamed A. El-Erian

We are now watching the second botching of a Cyprus rescue in less than a month. The implications cannot be good for Cyprus... and for Europe as a whole.

Cyprus Banking Crisis Goes From Bad To Worse

Sheldon Filger | Posted 06.12.2013 | Business
Sheldon Filger

Just when everyone thought the Cypriote banking disaster could not get any worse -- how can it get worse when the government is desperate enough to steal bank depositors' money -- it has suddenly become much worse.

Thomas Friedman on Timeouts

Robert Teitelman | Posted 06.10.2013 | Media
Robert Teitelman

Friedman has stumbled upon a nifty cliché, perhaps while watching March Madness, and then tried to fit the world and his own favorite causes around it. To make it work he has to distort the past and exaggerate the present, like a petulant parent.

Hey, They Are Stretching the Truth Way Too Far

Mohamed A. El-Erian | Posted 06.07.2013 | Business
Mohamed A. El-Erian

I was struck by what came out of the Troika this week after it finished negotiating the program with the authorities in Cyprus. This is not the first time officials bungle an element of the Cypriot rescue.

Cyprus and Greece: Living in "Hotel California"

Angelo Federico Arcelli | Posted 06.03.2013 | World
Angelo Federico Arcelli

It is now clear that the endgame of financial crisis in Europe is not a game of chicken with debtor nations that threaten to leave the Euro, but rather a contentious (but one-sided) debate over how much local bank depositors will have to share in the cost of future bailouts.

It Can Happen Here: The Confiscation Scheme Planned for US and UK Depositors

Ellen Brown | Posted 06.03.2013 | Business
Ellen Brown

When Americans realize that the alternative is to have their ready cash transformed into "bank stock" of questionable marketability, moving failed mega-banks into the public sector may start to have more appeal.

Unfortunately, the Cyprus Crisis Is Not Yet Over

Mohamed A. El-Erian | Posted 06.02.2013 | Business
Mohamed A. El-Erian

Wherever they look, Cyprus and its European partners are running out of easy options. Rather than seek additional short-term palliatives, they would be well advised to invert their operational logic.

Crafting the Cyprus Deal: A Road Filled With Blunders

David Catalan | Posted 05.31.2013 | Business
David Catalan

The role of the Troika in bailing out governments and banks is nothing new, but the solutions put forward by EU leaders to improve the Cypriot crisis seem to be founded on little foresight, and without regard for the tragic mistakes of the past few years.

Cyprus Bailout Tax Could Be Worse Than Expected

Reuters | Posted 05.29.2013 | Business

* Terms tough on big depositors at largest bank * Cypriot leader says risk of bankruptcy contained * Accuses Europe of t...

Cyprus Has 'No Intention Of Leaving The Euro': President

Reuters | Posted 05.29.2013 | Business

NICOSIA, March 29 (Reuters) - Cyprus has no intention of leaving the European single currency, the island's president said on Friday, assuring Cypri...

5 Reasons You Should Care About Cyprus

Richard Barrington | Posted 05.28.2013 | Business
Richard Barrington

Unless you're a student of history or are planning a Mediterranean vacation, you may never have given the island of Cyprus much thought. Then suddenly, it dominated the headlines. What does a banking crisis in a small and far-off land mean to you?

The Crisis Isn't Just in Cyprus

Terry Savage | Posted 05.27.2013 | World
Terry Savage

Could it happen here? It's unlikely that in America you'd see that kind of outright grab on the part of the government, for any reason, (unless you think back to the gold confiscation of the 1930s). And in America, we're very aware of our deposit insurance limitations.

3 Ways Cyprus Is a 'Game Changer' for Europe

Gemma Godfrey | Posted 05.27.2013 | Business
Gemma Godfrey

With the Fed likely to remain accommodative, bullish market sentiment may continue to overshadow concerns elsewhere. However, Cyprus has highlighted that we're far from an end to the crisis.

Bank of Cyprus CEO FIRED

Reuters | Posted 05.27.2013 | Business

NICOSIA, March 27 (Reuters) - The Chief Executive of the Bank of Cyprus, the country's largest commercial lender, said on Wednesday he had been dism...

Bank Source: Most Cyprus Banks To Reopen Tuesday

Reuters | Posted 05.25.2013 | Business

NICOSIA, March 25 (Reuters) - Most Cyprus banks will reopen on Tuesday but the Bank of Cyprus and Popular Bank will reopen on Thursday, a Central Ba...

Cyprus: Better Designed Rescue, Challenging Implementation

Mohamed A. El-Erian | Posted 05.25.2013 | Business
Mohamed A. El-Erian

After marathon and heated discussions, agreement was reached on a new rescue package for Cyprus. Compared to what had emerged a week earlier, this is a better technical outcome -- both in what it contains and in what is left out.

Mark Gongloff

After Cyprus Bailout Deal, Europe's Problems Worse Than Ever

HuffingtonPost.com | Mark Gongloff | Posted 03.25.2013 | Business

Cyprus may have been saved from disaster, but don't be fooled: Europe is still a hot mess. In the middle of the night on the continent, officials m...

Merkel Cyprus

Jeff Danziger | Posted 05.25.2013 | World
Jeff Danziger

2013-03-25-Screenshot20130325at8.11.25AM.jpg

Merkel 'Very Pleased' With Cyprus Bailout Deal

Reuters | Posted 05.25.2013 | Business

LANGENFELD, Germany, March 25 (Reuters) - German Chancellor Angela Merkel said on Monday she was "very pleased" with the outcome of marathon negotia...

Cyprus Reaches Bailout Deal With International Lenders

Reuters | Posted 03.25.2013 | Business

* Deal to shut Laiki bank, transfer insured deposits * Clinched hours before Monday deadline to seal EU bailout * Without deal banks faced colla...

Bomb Reportedly Explodes At Bank Of Cyprus Branch

Posted 03.25.2013 | World

An explosion has occurred outside of a Bank of Cyprus branch in Limassol, according to sources enikos.gr and SigmaLive. The blast was caused by an ...