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Cyprus Bank Tax

Cyprus President To Ask EU For More Help

AP | MENELAOS HADJICOSTIS | Posted 04.13.2013 | Business

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 ...

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 Bailout To Hit $30 Billion

AP | JUERGEN BAETZ | Posted 06.11.2013 | Business

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'...

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 Bank Employees To Protest

AP | Posted 04.04.2013 | Business

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...

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.

IMF Agrees To Its Part Of Cyprus Bailout

AP | MENELAOS HADJICOSTIS | Posted 06.03.2013 | Business

NICOSIA, Cyprus — The International Monetary Fund said Wednesday it will contribute 1 billion euros to an overall financial rescue package of 10...

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.

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...

Rich Cyprus Savers To Lose Up To 60 PERCENT Of Their Accounts

AP | MENELAOS HADJICOSTIS | Posted 03.31.2013 | Business

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 ...

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...

Cypriots Don't Have To Worry About Bank Limits: Central Bank

AP | MENELAOS HADJICOSTIS | Posted 05.29.2013 | Business

NICOSIA, Cyprus — Cyprus' central bank tried to kickstart spending in a country left reeling by a 10-day bank closure and financial near-collaps...

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?

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 Battle of Cyprus: A Safe and a Shotgun or Publicly-Owned Banks?

Ellen Brown | Posted 05.27.2013 | World
Ellen Brown

The push to confiscate the savings of hard-working Cypriot citizens is a shot across the bow for every working person in the world, a wake-up call to the perils of a system in which tiny cadres of elites call the shots and the rest of us pay the price.

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...

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.

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...

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...

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...