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Cyprus Bank Bailout

Russian Official: It Would Be A 'Great Pity' If Russians Lose Their Money In Cyprus

AP | Posted 04.01.2013 | Business

MOSCOW -- A senior Russian Cabinet member says his government won't protect Russian depositors who are losing money in Cyprus but may offer assistance...

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...

Euro Nears 4-Month Low

Reuters | Sophie Knight and Hideyuki Sano | Posted 03.27.2013 | Business

* Euro still smarting from 'Cyprus model' suspicions * Little sign of contagion to Italy, Spain * Yen under pressure ahead of April 3-4 BOJ meet...

Cyprus Has the Global Money Elite's Fingerprints All Over It

Richard (RJ) Eskow | Posted 05.26.2013 | Politics
Richard (RJ) Eskow

The debacle in Cyprus is far from over, but it's already taught us some very important lessons. We've seen, for example, that the world's financial leaders insist on clinging to the principles of austerity economics even after they've failed over and over again.

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...

Sunday Roundup

Arianna Huffington | Posted 05.23.2013 | Politics
Arianna Huffington

This week, President Obama gave a well-received tough-love speech in Israel, Syria may or may not have used chemical weapons, and Cyprus was given until Monday to come up with a restructuring Plan B after its parliament rejected Plan A: a 10 percent "haircut" tax on bank deposits over $100,000. Even more suspect than the health of Cyprus' banks is the decision-making on how to save them. "Impressively stupid" is how Cyprus.com described the EU's ambush of newly-elected (and pro-EU) President Anastassiades with a plan that -- by grabbing insured deposits -- would damage bank confidence throughout the EU. How can leaders make decisions this "impressively stupid?" As Felix Salmon writes, it was a move "born of an unholy combination of procrastination, blackmail, and sleep-deprived gamesmanship." For proof that this kind of decision making isn't exclusive to Europe, this week was also the 10th anniversary of one of the most "impressively stupid" and profoundly tragic decisions in U.S. history: the invasion of Iraq.

LOOK: Cypriots Lash Out Against Bailout Tax

The Huffington Post | Carlo Davis | Posted 03.18.2013 | World

As European heavyweights and the government of Cyprus maneuver to reach a bailout deal for the country's banks, the citizens of the island nation are ...

LOOK: Nervous Depositors Rush To Get Money Out Of Bank Before Huge Tax Increase

AP | MENELAOS HADJICOSTIS | Posted 05.16.2013 | Business

NICOSIA, Cyprus — Cyprus' president said Saturday that the decision to force bank depositors to share the burden of a (EURO)10 billion ($13 bill...