IMF
Business
Chrysostomos Urges Russians To Stay In Cyprus
Ahead of a deal in which Cyprus’ government agreed to confiscate up to 30 percent or more of bank deposits over 100,000 euros, Archbishop of Cyprus Chrysostomos said he would plead with Russian investors who hold more than $25...
Business
Cyprus Sets 100 Euro Daily ATM Limit
With fear building fast on Cyprus that there may not be a resolution to the country's economic crisis and the banks, which have been closed since March 15 not due to open again until March 26, the central bank...
Business
Cyprus-EU Talks Resume, Zero Hour Looms
Eurozone officials met in Brussels on March 24 with Cypriot officials as negotiations resumed on whether the island country's government could satisfy lender demands, including for a bank confiscation tax, to trigger release of a 10 billion euros ($13...
Business
Cyprus OK's Partial Bailout Plan
With the clock running fast toward a possible bank collapse and default unless they came up with a plan to raise 5.8 billion euros ($7.5 billion) to secure a 10 billion euros ($13 billion) bailout from international lenders, Cyprus'...
Business
Cyprus' Fate Hangs In The Balance
Cyprus' hopes of finding a way to come up with 5.8 billion euros ($7.5 billion) to secure a 10 billion euros ($13 billion) international bailout to save the country's economy and banks from collapse were dwindling late on March...
Business
Cyprus Moves To Plan C To Avert Default
With its back against the wall and facing a March 25 deadline to try to come up with a plan that would bring in 5.8 billion euros ($7.5 billion) to release a 10 billion euros ($13 billion) international bailout,...
Business
Cyprus Thriller Goes On
The European Union has given Cyprus until March 25 to raise 5.8 billion euros ($7.5 billion) to secure a bailout from international lenders or face the collapse of its banking system and economy and being pushed out of the...
Greece
Cypriots Give Samaras Ammo Against Troika
The resounding 36-0 rejection (not counting 19 cowards who sat on their hands and wouldn't take a stand) by the Cypriot Parliament of a tax that would have confiscated up to 9.9 percent of bank account deposits could provide...
Greece
What's Next for Cyprus? New Plan Explained
After Cyprus’ loud “No” to a demand from international lenders that up to 9.9 percent of bank accounts be seized to help pay for a bailout, and a “loud silence” from Germany, the Cypriot government now has to find...
Cyprus
Cyprus Can Revise Savings Seizure Plan
With reports that new Cypriot President Nicos Anastasiades admitted he didn't have the votes to pass a confiscation tax of up to 9.9 percent on bank deposits and force account holders to pay part of a bailout ordered by...