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Cyprus

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...

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 ...

Liquidity vs. Stupidity: Two Early Lessons From Cyprus

Jared Bernstein | Posted 05.22.2013 | Business
Jared Bernstein

Didn't someone around the table in Brussels raise their hand and say, "Hey, wait a sec... do we really want to levy this tax on a banking system that's already teetering?"

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...

Be Bullish! Bernanke Has Spoken!

Michael Farr | Posted 03.22.2013 | Business
Michael Farr

On the heel of Cypriot bank-deposit delirium, we suspect that the U.S. central bankers had more than enough concern to hold firm to the seemingly limitless flow of monetary easing.

Don't Forget the Geopolitics of Cyprus

Mohamed A. El-Erian | Posted 05.22.2013 | Business
Mohamed A. El-Erian

Europe has more than an immediate economic and financial interest in working with Cyprus to stabilize an increasingly volatile situation. And it should do so driven less by the need avoid an institutional Eurozone exit and more by the importance of fundamentally restoring growth and hope to Cyprus.

Cyprus Has Days To Come Up With A Plan To Avoid Bankruptcy

AP | MENELAOS HADJICOSTIS | Posted 05.22.2013 | Business

NICOSIA, Cyprus — Lawmakers in Cyprus approved three key bills Friday that aim to raise enough money to qualify the country for a broader bailou...

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 Proposes A 'Solidarity Fund'

Reuters | Posted 03.21.2013 | Business

NICOSIA, March 21 (Reuters) - The Cypriot government proposed to parliament on Thursday the creation of a "Solidarity Fund" based on revenues from hyd...

Can Cyprus's Sacrifice Save the Eurozone?

Justine Frangouli-Argyris | Posted 05.21.2013 | World
Justine Frangouli-Argyris

Will the government opt to raid some state pension or insurance funds that have already been contributing their share by buying up large sums of national bonds? Will the Europeans back down and ultimately agree to some alternative bailout deal that leaves savings untouched?

Cyprus Financial Crisis: Turkey & Reintegration Forgotten?

Ambassador Muhamed Sacirbey | Posted 05.21.2013 | World
Ambassador Muhamed Sacirbey

Will Turkey support and Cypriot Turks be expected to reintegrate into a unified Cyprus if the Kremlin is handed even a bigger role in the economic future of the Island and the exploitation of its natural gas reserves?

ECB: Cyprus Is Four Days Away From Bankruptcy

AP | MENELAOS HADJICOSTIS and ELENA BECATOROS | Posted 05.21.2013 | Business

NICOSIA, Cyprus — Cypriot politicians moved Thursday to restructure the country's most troubled bank as part of a broader bailout plan that must...

On the Ground in Europe

Mohamed A. El-Erian | Posted 05.20.2013 | Business
Mohamed A. El-Erian

As they scramble to sort out the mess in Cyprus, European officials would be well advised to constantly remind themselves of a reality that I suspect extends across the continent: Despite all the happy talk about smaller deficits and lower sovereign credit spreads, citizens are yet to feel any notable improvement in their actual standard of living and in their prospects. Day in and day out, this situation undermines the population's confidence in the timely responsiveness of their elected representatives, the political system and traditional political parties. The longer this persists, the harder it will be to pivot to the type of policy reforms needed to decisively avoid more years of economic difficulties.

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...

Yglesias Cheers a Double Betrayal of Cyprus

William K. Black | Posted 05.20.2013 | Business
William K. Black

Slate's Matthew Yglesias writes columns about economics and finance. Yglesias has been writing about Cyprus, and my critiques of the policies he has been proposing are the subject of this column.