Latest from
|
Nicosia -
The Cyprus Parliament has narrowly voted in favour of accepting the terms of the international bailout deal. Critics claim Troika imposed austerity diktats will plunge the economy into deep recession and stagnate growth.
|
|
Nicosia -
The Cypriot parliament is due to vote next week on whether to accept the terms of the bailout. "The choice before Cyprus is clear, either accept the bailout or face bankruptcy" said DISY leader Averof Neophytou.
|
|
Turkish Cypriots are claiming rights to the island's gold reserves which the Greek Cypriots are planning to sell as part of the EU bailout.
|
|
Nicosia -
The island nation of Cyprus has confirmed that it will sell 400 million euros of gold reserves to finance its part of the bailout, according to an assessment released by the European Commission on Wednesday.
|
|
Nicosia -
It appears that politicos, elites and favored companies may have had advance inside information pertaining to Cypriot bank deposit haircuts. The names of 132 companies and elites who transferred funds out prior to bank closures have been released.
|
|
Nicosia -
Cyprus Finance Minister Michalis Sarris announced that he is stepping down from his post following the launch of a government investigation into the island nation's economic collapse. The president has accepted his resignation.
|
|
Nicosia -
Depositors with more than 100,000 euros in their Bank of Cyprus accounts could now possibly lose up to 60% of their savings.
|
|
What has been perhaps the most significant factor in the European Debt Crisis for the currencies markets has not been the actual event itself, but the reaction of global central bankers..
|
|
In Cyprus, the Banks opened today at 11 .a.m after being closed for nearly two weeks. Long queues snaked outside the banks, but the opening was calm.
|
|
Banks in Cyprus have now reopened for business after being closed since March 16., though the Cypriot stock exchange remains closed. Draconian capital controls are in place to prevent a bank run.
|
|
Nicosia -
Cyprus has been decimated by the banking crisis but has at least avoided a eurozone exit. Morgan Stanley differs, opining "Cyprus is effectively no longer a full member of the eurozone." It has certainly been relegated to second-class status.
|
|
It appears that the looting of Cypriot bank accounts could set a precedent for government sanctioned theft to become a popular pastime. Savers and current account holders are now bank investors rather than customers, their accounts ripe for plunder.
|
|
The Russian Deputy Prime Minister Igor Shuvalov is clearly disappointed at Cyprus stopgap which means losses for Russian investors - and does not exclude that Russia's loans to Cyprus can be renegotiated.
|
|
Sydney -
You get tired of writing about nothing but human stupidity after a while. The Cyprus case, however, is exceptional in its sheer bastardry. A bailout with no specifics, a policy with no objectives and less economic planning, you name it, it’s all there.
|
|
Russian Prime Minister Dmitry Medvedev has reacted to the Cypriot bailout deal by labelling it as theft. The Kremlin is considering freezing German assets in Russia in retaliation for Russian losses in Cyprus banks.
|
|
Nicosia -
Local banks in Cyprus will reopen on Tuesday with a cap on withdrawals to prevent a bank run. Capital controls were approved last week by the Cypriot parliament.
|
|
Brussels -
A Cypriot exit from the euro was averted in the early hours of the morning when details of the bailout agreed between Cyprus and the troika were approved by the eurozone finance ministers.
|
|
Nicosia -
Following negotiations between Cyprus and the Troika, a 20% tax is to be taken from deposits of 100,000 euros and more held in the Bank of Cyprus, and 4% on deposits over 100,000 euros held at other banks. (Video update.)
|
|
Nicosia -
As the Cypriot government desperately scrambles to seek finance, the head of Cyprus' Orthodox Church has offered the church's assets to help the island nation.
|
|
Nicosia -
An interesting twist to the current Cypriot banking fiasco has emerged. It has been revealed German banks are attempting to lure Cypriot deposits to their own coffers.
|
apis-204236 apis-203253 apis-203033 apis-202478 apis-201812 apis-201749 apis-201585 apis-201414 apis-201330 apis-201311 apis-201214 apis-201113 apis-201090 apis-201082 apis-201038 apis-201025 apis-201014 apis-200922 apis-200746 apis-200666
|
Top News
topnews-right-205820 topnews-right-205808 topnews-right-205809 topnews-right-205823 topnews-right-205816 topnews-right-205810 topnews-right-205804 topnews-right-205830
Social
Engage
|
RSS for National News