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Cyprus Debt Crisis

Cyprus Rescue: From Bad to Worse

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

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 | Home
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.

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.

Does the Internet Depend on the Survival of Bitcoin?

Max Keiser | Posted 05.29.2013 | Business
Max Keiser

The market capitalization for Bitcoin has exceeded $1 billion so people are asking: What's next? We can see the growth pattern for adoption of this ...

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...

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.

Merkel Cyprus

Jeff Danziger | Posted 05.25.2013 | Home
Jeff Danziger

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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 * No agreement...

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.

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...

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.

Cyprus Proposes A 'Solidarity Fund'

Reuters | Posted 03.21.2013 | Business

NICOSIA, March 21 (Reuters) - The Cypriot government proposed to parliament on Thursday the creation of a "Solidarity Fund" based on revenues from hyd...

Cyprus Bailout Could Fail

The Huffington Post | Mark Gongloff | Posted 03.19.2013 | Business

Thing One: Apocalypse A Little Later: It took less than a day for pundits to declare the Cyprus bailout debacle to not be a big deal. That may be prem...

Everything You Need To Know About Cyprus But Were Afraid To Ask

The Huffington Post | Mark Gongloff | Posted 03.18.2013 | Business

Just when you thought it was safe: Americans who have been pumping money back into the stock market as it hit record highs got some unhappy news this ...

Cyprus May Need Bailout Worth More Than Half Its Economy

Reuters | Posted 08.25.2012 | Business

* Bailout could run to 10 billion euros, officials say * Becomes fifth euro zone state to seek European aid * EU/ECB aid...