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Blame the Euro, not CyprusCo-CEO and co-founder of Saxo Bank, Lars Seier Christensen believes that the real problem is not Cyprus, it is the Euro, as he has written in his latest blog post. After a few disturbing weeks, I would like to wrap up my comments More… |
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Kuwait debtors' bailout to cost $2.6bnA government bailout of Kuwaiti debtors is expected to cost 744 million dinars ($2.61 billion), finance minister Mustapha Al-Shamali said on Tuesday. The government, under pressure from members More… |
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Cyprus rules out leaving Euro zoneThe president of Cyprus yesterday said the risk of bankruptcy had been contained and the country had no intention of leaving the euro, in a speech laden with criticism of Europe's currency union for "experimenting" with the island& More… |
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Cyprus reopens banks under tight curbsCypriots banks reopen on Thursday with tight controls imposed on transactions to prevent a run on deposits after the government was forced to accept a stringent EU rescue package to prevent the country from going bankrupt. More… |
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Money fled Cyprus as president fumbled bailoutAs new President Nicos Anastasiades hesitated over an EU bailout that has wrecked Cyprus's offshore financial haven status, money was oozing out of his country's closed banks. In banknot More… |
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Cyprus seeks 11th-hour deal to avert financial collapseCypriot President Nicos Anastasiades flies to Brussels on Sunday to seek an 11th-hour reprieve from financial meltdown, with a bailout from the European Union and the island's place in Europe's single currency bloc hanging in the balance More… |
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Crisis-hit Cyprus weighs big bank levyCyprus said on Saturday it was looking at seizing a quarter of the value of big deposits at its largest bank as it races to raise the funds for a bailout from the European Union and avert financial collapse. Banks in the debt-hit nation More… |
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Cyprus risks euro exit after EU bailout ultimatumThe European Union gave Cyprus till Monday to raise the billions of euros it needs to secure an international bailout or face a collapse of its financial system that could push it out of the euro currency zone. In a sign it was at More… |
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Bailout terms 'death knell for economy'The onerous terms of an European Union 10-billion-euro ($13 billion) bailout for Cyprus will sound the death knell for the island's financial sector and will have a lasting impact on its economy, warned international experts. More… |
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$13bn euro zone bailout for CyprusEuro zone finance ministers and the International Monetary Fund have agreed on a 10 billion-euro ($13 billion) bailout deal for Cyprus, the fifth euro zone member to be saved from bankruptcy. The package, which was agreed after so More… |
