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cyprus bailout News

Cyprus parliament to vote on terms of bailout

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 Cyprus claims rights to Greek Cypriot gold

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.

132 companies, elites transferred cash out of Cyprus, named

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.

Unemployment edges up in eurozone

Berlin - Unemployment in the eurozone has edged up to 12 percent from 11.9 percent, the highest rate since the group of financially-joined countries established a common currency.

Op-Ed: Killing Cyprus, natural gas, crime and unmitigated stupidity

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.

Cyprus bailout deal agreed with eurozone ministers

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.

Cyprus' Orthodox Church offers government church assets

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.

Stock markets decline as Cyprus reworks tax on bank deposits

Nicosia - A vote on the plan to tax bank deposits in Cyprus was postponed as ministers try to revise the plan amid fears that as it is, it might be defeated in the Cypriot legislature.

Bailout being negotiated to prevent default by Cyprus

Nicosia - Eurozone finance ministers are meeting along with IMF head Christine Lagarde to discuss a bailout for Cyprus. The final decision may be delayed until discussions with Russia which has strong business ties with Cyprus.

Merkel's Economic Council opposes Cyprus assuming EU Presidency

Kurt Laouk, head of the Economic Council of the German Chancellor Angela Merkel, has expressed opposition to Cyprus assuming the Presidency of the European Union on July 1, following the island nation's request for a bailout.

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