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Cyprus

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 Crisis Isn't Just in Cyprus

Terry Savage | Posted 05.27.2013 | World
Terry Savage

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.

3 Ways Cyprus Is a 'Game Changer' for Europe

Gemma Godfrey | Posted 05.27.2013 | Business
Gemma Godfrey

With the Fed likely to remain accommodative, bullish market sentiment may continue to overshadow concerns elsewhere. However, Cyprus has highlighted that we're far from an end to the crisis.

Euro Nears 4-Month Low

Reuters | Sophie Knight and Hideyuki Sano | Posted 03.27.2013 | Business

* Euro still smarting from 'Cyprus model' suspicions * Little sign of contagion to Italy, Spain * Yen under pressure ahead of April 3-4 BOJ meet...

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 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.

Germany: Europe's Greedy Boss

Justine Frangouli-Argyris | Posted 05.26.2013 | World
Justine Frangouli-Argyris

With their southern partners' economies collapse resulting in these nations being unable to purchase many imported goods, Germany has decided to pursue the only assets left to be had, namely the funds remaining in their banks.

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...

The Cyprus Deal Signals a Rise in the Far Right in Europe

Daniel Wagner | Posted 05.25.2013 | World
Daniel Wagner

News of the 10-billion-euro bailout for Cyprus should not be cause for celebration. Europeans are rightly insecure about what comes next, as they should be given the precedent that has been set.

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.

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...

Merkel Cyprus

Jeff Danziger | Posted 05.25.2013 | World
Jeff Danziger

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Merkel 'Very Pleased' With Cyprus Bailout Deal

Reuters | Posted 05.25.2013 | Business

LANGENFELD, Germany, March 25 (Reuters) - German Chancellor Angela Merkel said on Monday she was "very pleased" with the outcome of marathon negotia...

Bank on Being Bilked

Leo W. Gerard | Posted 05.25.2013 | Politics
Leo W. Gerard

Unless Americans step up the way Cypriots did and demand real regulation, as well as send the message that they don't trust Wall Street by moving their money to community banks and credit unions, they can bank on being bilked. Again.

147 People

Richard (RJ) Eskow | Posted 01.31.2014 | Politics
Richard (RJ) Eskow

147 people can change the course of history. Not necessarily the same 147 people, of course. But the small social groups which surround our world's leaders have extraordinary power.

Cyprus Reaches Bailout Deal With International Lenders

Reuters | Posted 03.25.2013 | Business

* Deal to shut Laiki bank, transfer insured deposits * Clinched hours before Monday deadline to seal EU bailout * Without deal banks faced colla...

Bomb Reportedly Explodes At Bank Of Cyprus Branch

Posted 03.25.2013 | World

An explosion has occurred outside of a Bank of Cyprus branch in Limassol, according to sources enikos.gr and SigmaLive. The blast was caused by an ...

Cyprus -- The Nightmare Scenario

Laurence J. Kotlikoff | Posted 05.24.2013 | World
Laurence J. Kotlikoff

The Cypriot banks did what all banks do. They gambled. They borrowed money by taking in deposits as well as selling bonds, promised to repay, and then invested in assets they were sure would pay off. These assets included lots and lots of Greek government bonds.

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...

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 ...

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...