Monday, 18 March 2013 The surprise decision by euro zone leaders to part-fund a bailout of Cyprus by taxing bank deposits sent shockwaves through financial markets on Monday, with shares and the bonds of struggling euro zone governments tumbling…. Read More ›
Cyprus
Frantic day ahead as EU tells Cyprus it can rethink controversial bailout terms as key vote postponed
Cyprus postpones crucial vote on controversial bank deposit levy as stocks plummet around the world John Hall, Charlotte McDonald-Gibson, Nathalie Savaricas Monday, 18 March 2013 German and European bank officials have said Cyprus can amend the terms of its €10… Read More ›
Oil plunges as dollar gains on Cyprus news
March 18, 2013, 1:15 a.m. EDT By Michael Kitchen, MarketWatch LOS ANGELES (MarketWatch) — Crude-oil futures tumbled in electronic trading Monday, slapped lower by a surge in the dollar as worries spiked over a Cyprus bank levy and its implications… Read More ›
Asian markets fall amid fears over Cyprus bailout deal
Asian markets have dipped after Cyprus bailout plans triggered fears of an escalation of the eurozone debt crisis. The EU and IMF want all bank customers to pay a levy in return for a bailout worth 10bn euros ($13bn;… Read More ›
Cyprus may raise deposit levy to 12.5% for large accounts – report
Published time: March 17, 2013 21:29 Edited time: March 18, 2013 00:45 AFP Photo / Alex Mita Cyprus is currently deciding whether to raise the anti-crisis tax on savings larger than €100,000 to 12.5%, while reducing the levy on… Read More ›
Cyprus savings levy: questions and answers : Levy will be on Average Balance, withdrawing money will not save you
All the issues, causes and consequences of a forced levy on savers at Cypriot banks as part of the eurozone rescue package Graeme Wearden guardian.co.uk, Sunday 17 March 2013 10.06 EDT People try to withdraw money from a cashpoint… Read More ›
The decision to raid people’s savings to fund a bail-out for Cyprus sets a “worrying precedent” that could jeopardise the European economic recovery, financial experts have warned.
EU raid on savings to fund bail-out for Cyprus ‘threatens recovery’ By Robert Winnett, and Tom Whitehead 10:00PM GMT 17 Mar 2013 The island’s government has announced that, following pressure from finance ministers in the eurozone, it is introducing a… Read More ›
‘They took our money while we were sleeping’ WITH VIDEO
By Peter Stevenson Published on March 17, 2013 THE AIR of disappointment and rage on Ledra Street yesterday morning was almost tangible with groups of middle-aged men gathering to express their disbelief and fury about the haircut on deposits. Social… Read More ›
The Political Leaders of the EU, IMF, and Cyprus need to be audited.
EEV: I rarely offer commentary, but the Iron needs to be struck while hot. – The people of Europe need to know whether the political leaders of the Eurozone, including Cyprus, transferred money to safer havens prior to the proposed… Read More ›
Tomorrow, Cyprus could vote to leave the euro. This is political dynamite: “If Cypriot depositors are forced to pay today, why not Spanish ones tomorrow “
By Mats Persson Economics Last updated: March 17th, 2013 There are two ways to look at the hugely controversial bailout agreed for Cyprus in the early hours of Saturday morning, in which the small island nation – accounting for only… Read More ›
Cyprus baulks at painful EU bailout terms: ” I don’t think the banks will open if the bill isn’t passed “
17 Mar 2013 NICOSIA (AFP) Cyprus postponed an emergency debate in parliament on a controversial EU bailout on Sunday, threatening a prolonged closure of the island’s banks as MPs baulk at an unprecedented tax on savings. Fellow eurozone countries and… Read More ›
Osborne says UK will help troops hit by EU raid on British savers in Cyprus
George Osborne: UK will compensate troops and government workers affected by Cyprus bailout levy Savers in Cypriot banks will be forced to hand over up to 10 per cent of their deposits to raise about €6bn James Legge Sunday 17… Read More ›
Cyprus Bail-Out Unfair, short-sighted and self-defeating: Will anyone ever put their savings in a Eurozone Bank again ?
Unfair, short-sighted and self-defeating Mar 16th 2013, 14:54 by A.P. IT IS not a fudge, but it is still a failure. The euro zone’s bail-out of Cyprus, which was sealed in the early hours of Saturday, did get the bill… Read More ›
Greece seeks buyers for local units of Cypriot banks
ATHENS | Sat Mar 16, 2013 3:20pm EDT ATHENS (Reuters) – Athens has started exploring local lenders’ interest in taking over the Greek units of Cypriot banks, as part of the island’s international bailout agreed earlier on Saturday, Greece’s finance… Read More ›
Cyprus: panic as savings levy is imposed
Cypriots rush to ATMs before savings are docked as part of a bailout deal agreed in Brussels Paul Gallagher and Helena Smith guardian.co.uk, Saturday 16 March 2013 15.14 EDT Cyprus’s rightwing leader Nicos Anastasiades believes his country will default following… Read More ›
A look at Cyprus’ decision to tax depositors : Euro and the IMF resorts to absolute theft
By SARAH DiLORENZO AP Business WriterAssociated Press Posted: 03/16/2013 09:16:15 AM PDT March 16, 2013 7:15 PM GMTUpdated: 03/16/2013 12:15:23 PM PDT PARIS—People with bank accounts in Cyprus were shocked Saturday to learn that as part of an … Read More ›
Cyprus people ‘shocked’ with bailout terms: EuroGroup wants to tax Bank Deposits
Please refer to Update: Latest Update: It is apparent that Reuters is running a similar story that is there is no run on the banks, and foreigners accounts are safe. Cyprus parliament to vote on savings levy The following… Read More ›
Britain saw worse wage drops than rest of EU – study
Published time: March 04, 2013 12:31 Britain has suffered one of its the biggest drops in median pay over the last two years, recent figures have revealed. Out of the EU’s 27 member-states, only the Netherlands,… Read More ›
EU economy commissioner warns over Cyprus euro exit
Cyprus’s new President Anastasiades stands next to his predecessor Christofias at the presidential palace in the capital Nicosia. AFP Sunday, Mar 03, 2013 BERLIN – European Economic Affairs Commissioner Olli Rehn has warned that debt-riven Cyprus could exit the… Read More ›
Horse meat found in British supermarkets ‘may be donkey’
John Lichfield Sunday, 10 February 2013 A law banning horses from Romanian roads may be responsible for the surge in the fraudulent sale of horse meat on the European beef market, a French politician said today. Horse-drawn carts were… Read More ›
Closed EU doors to prompt new Union – Union of Slavic Nations?
Sunday, 09 December 2012 According to Igor Muradjan, analyst for Armenian daily Erkramas, as of this spring (2012) there are attempts to find common language between Serbia and Bulgaria’s common interests. There have been talks for a Union between Serbia,… Read More ›
‘Mafiosi’ stand to gain most from EU bail-out of Cyprus
Russian oligarchs and “mafiosi” who have parked their illegal earnings inside the country stand to benefit most from an EU bail-out of Cyprus, according to a report by Germany’s intelligence agency. Cyprus is in talks with international lenders on the… Read More ›
Cash-strapped Cyprus plots Russian exit from austerity
It has been three years since I was last in Paphos, a resort on Cyprus’s west coast, and at first glance not much has changed. Fishing boats in Paphos Harbour, Pafos, Pafos District, Cyprus. Photo: Alamy <!– remove the whitespace… Read More ›
Engineering Evil 