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Cyprus Banks

Cyprus Banking Crisis Goes From Bad To Worse

Sheldon Filger | Posted 06.12.2013 | Business
Sheldon Filger

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.

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'...

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 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 ...

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.

Report: Cyprus' Banks NOT Opening Tomorrow

AP | ELENA BECATOROS | Posted 05.25.2013 | Business

NICOSIA, Cyprus — Cyprus ordered banks to remain closed for two more days over fears of a run by customers trying to get their money out, after ...

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...

Mark Gongloff

After Cyprus Bailout Deal, Europe's Problems Worse Than Ever

HuffingtonPost.com | 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...

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 ...

TIME IS RUNNING OUT

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 ...

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...

Eleazar David Melendez

Russian Billionaires With Cash In Cyprus Find Themselves Targets Of Contentious Bailout

HuffingtonPost.com | Eleazar David Melendez | Posted 03.21.2013 | Business

On the streets of Cyprus, demonstrators have taken to waving posters depicting German Chancellor Angela Merkel as a horned devil or a Nazi officer. ...

Cyprus Government Proposes Bill To Crack Down On Banks

Reuters | Posted 03.21.2013 | Business

NICOSIA, March 21 (Reuters) - The Cypriot government submitted a bill to parliament on Thursday giving the finance minister or central bank governor t...

Cyprus To Keep Banks Closed Until Next Week At The Earliest

Reuters | Posted 05.20.2013 | Business

NICOSIA/MOSCOW (Reuters) - Cyprus extended a bank lockdown to next week and considered nationalizing pension funds on Wednesday, scrambling to avert a...

Euro Leaders Backtrack On Cyprus Tax

Reuters | Michele Kambas and Harry Papachristou | Posted 05.18.2013 | Business

NICOSIA/ATHENS, March 18 (Reuters) - Euro zone ministers urged Cyprus to let smaller savers escape a levy on bank deposits, before a parliamentary v...

Cyprus To Shut Down Banks Tuesday And Wednesday

Reuters | Posted 05.18.2013 | Business

NICOSIA, March 18 (Reuters) - Banks in Cyprus will be shut on Tuesday and Wednesday pending a decision by parliament to approve a levy on bank depos...

Cyprus Delays Vote On Savings Tax Raid

AP | MENELAOS HADJICOSTIS and DAVID McHUGH | Posted 05.18.2013 | Business

NICOSIA, Cyprus — A plan to seize up to 10 percent of savings accounts in Cyprus to help pay for a (EURO)15.8 billion financial bailout was met ...

Stocks Drop Sharply On Cyprus Bailout Tax

AP | PAMELA SAMPSON | Posted 05.18.2013 | Business

BANGKOK — Asian stock markets rose Tuesday, shaking off jitters sparked by a plan to give bank deposits in Cyprus a haircut to help fund the Eur...