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Cyprus

The Islamic Menace of Turkey

Evaggelos Vallianatos | Posted 08.13.2013 | World
Evaggelos Vallianatos

The current protests in Turkey may have a beneficial effect in diminishing the Islamic fervor of the Turkish government. But judging Turkey just on its recent history, the expectations for a more civilized Turkey may be premature.

The Money King Is Ruling: Long Live That Forgotten King of Solitude

Efterpie Araouzou | Posted 07.28.2013 | World
Efterpie Araouzou

Probably the island that suffered the most conquests in the history of the world, Cyprus has been once more attacked by another mighty ruler: The King of Money.

Turkey: Opportunities and Risks Ahead

Alon Ben-Meir | Posted 07.09.2013 | World
Alon Ben-Meir

Turkish Prime Minister Recep Tayyip Erdogan's visit to Washington on May 16 comes at a pivotal time when the Middle East is riddled with extraordinary conflicts that have the potential of exploding into a regional war.

Unlucky Number 13: Is Slovenia Next in Line for a Bailout?

Luka Orešković | Posted 07.02.2013 | Business
Luka Orešković

While some hope of a miracle occurring in the coming months remains, so does the question of whether the new Slovenian government is willing to invest enough political capital to push through the necessary reforms before the capital markets decide to lock Slovenia out once again.

Economic Crisis Sets Back Hopes For Peace In Cyprus

AP | MENELAOS HADJICOSTIS | Posted 04.27.2013 | World

NICOSIA, Cyprus -- When the barriers carving Cyprus in half were finally breached 10 years ago this week, Turkish Cypriot Fethi Akinci forged what som...

Has Gold Lost Its Luster?

Michael Farr | Posted 04.23.2013 | Business
Michael Farr

The drop in gold is puzzling considering gold's status as a safe-haven asset. Some attribute the drop in gold to the fact Cyprus may have to sell its gold reserves. But last Monday's drop was just a continuation of a long slide in the price of gold over the past several months.

One Piece Of Economic News You Really Must Hear

Michael Hodin | Posted 06.14.2013 | Fifty
Michael Hodin

Yet for all the humbug and melancholy, the ratings agency Standard & Poor's has some unexpected good news in its new report. Contrary to what your Twitter feed may suggest, a number of nations are making notable progress in reforming fiscal and economic policies to account for population aging.

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'...

The New York Times Thinks Bleeding Cyprus Is 'Strong Medicine'

William K. Black | Posted 06.09.2013 | Business
William K. Black

Has the New York Times ever had Krugman spend two hours educating its financial reporters about austerity and the euro's design defects? That would be one of the best investments it could ever make in raising the quality of its reportage on these issues.

'Everybody Here Stands To Lose A Lot Of Money, The Money You Worked For Your Whole Life'

AP | By MENELAOS HADJICOSTIS | Posted 06.09.2013 | Business

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...

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 Prison Inmates' Touching Act

AP | MENELAOS HADJICOSTIS | Posted 06.06.2013 | Business

NICOSIA, Cyprus (AP) — With Cyprus' economy falling apart, even those behind prison bars are pulling together to help people in need. ...

German Minister: Offshore Tax Haven Report Will 'Increase Pressure'

Reuters | Posted 06.05.2013 | Business

By Stephen Brown BERLIN, April 5 (Reuters) - German Finance Minister Wolfgang Schaeuble said on Friday he was glad the identities of t...

Are We Heading Towards Cyprus or Socialism?

Les Leopold | Posted 06.04.2013 | Business
Les Leopold

What will happen the next time the largest banks in America gamble their way into chaos? Will taxpayers bail them out again or will the "stakeholders" be forced to make up the losses?

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...

Cyprus Finance Minister Quits

Reuters | Michele Kambas | Posted 04.02.2013 | Business

NICOSIA (Reuters) - Cypriot Finance Minister Michael Sarris quit on Tuesday after concluding talks with foreign lenders on a bailout that forced the i...

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.

Crafting the Cyprus Deal: A Road Filled With Blunders

David Catalan | Posted 05.31.2013 | Business
David Catalan

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.

'Shame On Europe For Trying To Snatch People's Savings'

AP | By MENELAOS HADJICOSTIS | Posted 05.30.2013 | Business

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...

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...