Cyprus News

Nicosia - The University of Nicosia made waves this week when it announced that it would become the first accredited institution to accept Bitcoins from students.

The University of Nicosia, located in Cyprus, announced that it would allow students to pay tuition fees with Bitcoin, the first accredited university to do so.

Akrotiri - An incident last Monday illustrated just how easily UK forces could become involved should President Obama elect to proceed with ‘limited and narrow’ strikes against the regime of Syria’s President Assad.

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.

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 - 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.

The haircut which took depositors in Cyprus banks by surprise was apparently no surprise to top politicos. Politicians and their relatives transferred over €26 million abroad just days before ordinary savers were looted.

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.