iOS app Android app

Cyprus Bailout

Cyprus Banks Reopen With Strict Limits

AP | MENELAOS HADJICOSTIS | Posted 05.28.2013 | Business

NICOSIA, Cyprus — Anxious Cypriots patiently waited in long lines to get at their accounts on Thursday after banks opened for the first time in ...

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 ...

Cyprus Bank Shutdown Hammering Businesses

AP | MENELAOS HADJICOSTIS | Posted 05.26.2013 | Business

NICOSIA, Cyprus — Cypriot businesses were under increasing strain to keep running on Tuesday after financial authorities stretched the country's...

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 | 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


Russian PM: Cyprus Bailout Deal Is Essentially Theft

AP | Posted 03.25.2013 | Business

MOSCOW -- A spokesman for Russian President Vladimir Putin says the president has asked the government to restructure a 2.5 billion euro ($3.2 billion...

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 Deal Likely To Push Stocks Rally

AP | TOM KRISHER | Posted 03.25.2013 | Business

-- The last-ditch effort to save the banking system in Cyprus should bring a rally when U.S. stock markets open on Monday, according to several inves...

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 and SigmaLive. The blast was caused by an ...

Report: Cyprus President Threatened To Resign

Reuters | Posted 03.25.2013 | Business

* Cyprus nearing Monday deadline to seal EU bailout * Faces banking collapse, possible euro zone exit * President said to threaten resignation i...

Cyprus Residents Say Country Facing Worst Crisis Since 1974 War

Reuters | Posted 05.24.2013 | Business

* Island facing worst crisis since 1974 war * Crisis talks to avert default go down to the wire * Prospect of financial ...

Meeting DELAYED As Crucial Deadline Nears

Reuters | Posted 05.24.2013 | Business

BRUSSELS, March 24 (Reuters) - Euro zone finance ministers delayed by two hours a Sunday evening meeting intended to help Cyprus meet a Monday deadl...

Cyprus Limits ATM Withdrawls

Reuters | Posted 05.24.2013 | Business

NICOSIA, March 24 (Reuters) - The central bank in Cyprus imposed a 100-euros per day withdrawal limit at cash machines for the island's t...

Officials: Cyprus In Danger Of Default

Reuters | Posted 05.24.2013 | Business

* Government has difficult task ahead, spokesman says * Island nearing Monday deadline to seal EU bailout ...

Possible Cyprus Deal On Large Deposits?

Reuters | Posted 05.23.2013 | Business

NICOSIA, March 23 (Reuters) - Cyprus has agreed with EU/IMF lenders a 20-percent levy on deposits over 100,000 euros ($130,000) at leading lender Ba...

The Worse Case For Cyprus Is...

AP | SARAH DiLORENZO and DAVID McHUGH | Posted 03.23.2013 | Business

PARIS -- What happens if Cyprus' banks collapse? If its government goes broke? If it leaves the euro? The European Union, the International Monetary ...


AP | MENELAOS HADJICOSTIS | Posted 05.23.2013 | Business

NICOSIA, Cyprus — Cyprus officials and international representatives ended torturous negotiation in the early hours of Sunday with no agreement ...

Liquidity vs. Stupidity: Two Early Lessons From Cyprus

Jared Bernstein | Posted 05.22.2013 | Business
Jared Bernstein

Didn't someone around the table in Brussels raise their hand and say, "Hey, wait a sec... do we really want to levy this tax on a banking system that's already teetering?"

Cyprus Inches Closer To Bailout

Reuters | Posted 05.22.2013 | Business

NICOSIA, March 22 (Reuters) - Cyprus adopted legislation on Friday allowing the government to split the island's failing lenders into good and bad ban...

Don't Forget the Geopolitics of Cyprus

Mohamed A. El-Erian | Posted 05.22.2013 | Business
Mohamed A. El-Erian

Europe has more than an immediate economic and financial interest in working with Cyprus to stabilize an increasingly volatile situation. And it should do so driven less by the need avoid an institutional Eurozone exit and more by the importance of fundamentally restoring growth and hope to Cyprus.