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Cyprus

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.

Cyprus Works Furiously On Plan B

AP | MENELAOS HADJICOSTIS and ELENA BECATOROS | Posted 05.20.2013 | Business

NICOSIA, Cyprus -- Banks in Cyprus will not open before Tuesday at the earliest as government officials try to find a new plan to stave off financial ...

Spread: A Catholic Sin

Massimo Franco | Posted 05.19.2013 | Books
Massimo Franco

It might be hard to grasp if you live on the Mediterranean shores of Europe, but the Northern countries of the continent consider the southern countries' debts and high levels of spread Catholic sins.

U.S. Stocks Little Changed After Lawmakers Reject Cyprus Bailout Terms

AP | Posted 05.19.2013 | Business

NEW YORK (AP) — Investors are taking the latest turn in Europe's financial drama in stride. U.S. stocks recovered most of an early lo...

Cypriot Official: Vote On Bank Deposit Seizure To Go Ahead

AP | MENELAOS HADJICOSTIS and ELENA BECATOROS | Posted 05.19.2013 | Business

NICOSIA, Cyprus — Lawmakers in Cyprus decisively rejected a plan on Tuesday to seize up to 10 percent of people's bank deposits in order to secu...

Emergency Cash En Route To Cyprus

AP | Posted 05.19.2013 | Business

LONDON — Officials say a Royal Air Force plane carrying a million euros ($1,289,000) in cash is traveling to Cyprus to provide contingency funds...

Implications of Europe's Stumble in Cyprus

Daniel Wagner | Posted 05.19.2013 | Business
Daniel Wagner

Cyprus has, for the first time, demonstrated there is in fact a limit to what northern European countries will do to preserve the illusion that Euro land can remain a cohesive and equal entity.

Cyprus Finance Minister Denies Resignation Reports

Posted 03.19.2013 | Business

UPDATE: 1:53 p.m. -- Reuters reports via Twitter that resignation reports aren't true. Original story below: On Tuesday, the same day the Cy...

Think the Cyprus Bailout Is Bad? You Have It Worse.

Quora | Posted 05.18.2013 | World
Quora

This post originally appeared on Quora. Answer by Nate Anderson, Co-founder at ClaritySpring and Director at Tangent Capital An angry Cypriot men...

Cyprus Bailout Could Fail

The Huffington Post | Mark Gongloff | Posted 03.19.2013 | Business

Thing One: Apocalypse A Little Later: It took less than a day for pundits to declare the Cyprus bailout debacle to not be a big deal. That may be prem...

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...