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.
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.
NICOSIA, Cyprus -- Cyprus' president said Friday he will ask the European Union to provide more help for the crisis-hit country, which has to pay for ...
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.
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.
BRUSSELS — The cost of bailing out Cyprus has swollen to 23 billion euros ($30 billion), with the crisis-hit country having to take on the lion'...
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.
NICOSIA, Cyprus (AP) — When Costas Kalapodas was diagnosed with brain cancer two years ago and given months to live, he saw one sure place to put hi...
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.
NICOSIA, Cyprus (AP) — With Cyprus' economy falling apart, even those behind prison bars are pulling together to help people in need. ...
NICOSIA, Cyprus -- Bank employees in Cyprus will walk off the job for two hours and march toward parliament to protest against looming job and benefit...
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.
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.
NICOSIA, Cyprus — The International Monetary Fund said Wednesday it will contribute 1 billion euros to an overall financial rescue package of 10...
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.
MOSCOW -- A senior Russian Cabinet member says his government won't protect Russian depositors who are losing money in Cyprus but may offer assistance...
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.
NICOSIA, Cyprus -- Big depositors at Cyprus' largest bank may be forced to accept losses of up to 60 percent, far more than initially estimated under ...
NICOSIA, Cyprus (AP) — The moment word broke that Cypriot lawmakers in Parliament had voted down a bailout deal that would have raided everyone's sa...
* Terms tough on big depositors at largest bank * Cypriot leader says risk of bankruptcy contained * Accuses Europe of t...
NICOSIA, Cyprus — Cyprus' central bank tried to kickstart spending in a country left reeling by a 10-day bank closure and financial near-collaps...
NICOSIA, March 29 (Reuters) - Cyprus has no intention of leaving the European single currency, the island's president said on Friday, assuring Cypri...
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?
NICOSIA, Cyprus — Anxious Cypriots patiently waited in long lines to get at their accounts on Thursday after banks opened for the first time in ...
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.
