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  • September 18, 2014
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  1. Business - Economy - Cyprus

    Cyprus bailout cost jumps in threat to teetering economy

    Posted Apr 12th 2013, 01:56am by AFP

    ... teetering economy in danger of collapse and further endangering large bank depositors. “It’s a fact the memorandum of November talked about 17.5 billion euros in financing needs. And it has emerged this figure has become 23 billion,” said government spokesman Christos Stylianides. It’s a fact the memorandum of November talked about 17.5 billion euros in financing needs. And it has emerged ...

  2. News - World - Cyprus

    Cyprus approves first EU bailout measures as clock ticks

    Posted Mar 22nd 2013, 08:56pm by AFP

    ... to rescue an EU bailout ahead of a Monday deadline. But with the clock ticking down to a crunch Sunday evening meeting with euro zone finance ministers, more contentious issues remained ... of police barricades as they chanted, “The haircut is robbery.” Euro zone finance ministers will meet in Brussels in a last-ditch bid to find a solution, three separate sources said. “It’ll ...

  3. News - World - Cyprus

    Cyprus in ‘superhuman effort’ to reopen banks

    Posted Mar 26th 2013, 10:59pm by Agence France-Presse

    ... the Eurogroup, the Germans... they want to take all our money from us,” schoolgirl Evan Ieridou, 17 said at the student protest. Finance Minister Michalis Sarris meanwhile warned that the “haircut” ... on Tuesday. Greek Finance Minister Yannis Stournaras insisted on Tuesday that the Cyprus deal only applied to the island country. Many on the island feel that they have been made a scapegoat ...

  4. News - World - Cyprus

    Cyprus girds for run on banks after sealing bailout

    Posted Mar 25th 2013, 09:33pm by Reuters in Nicosia

    ... had suffered fatal hubris. Backed by euro zone finance ministers, the plan will wind down the largely state-owned Popular Bank and shift deposits under 100,000 euros to the Bank of Cyprus ... billion euros of the 5.8 billion euros the EU and IMF had told Cyprus to raise as a contribution to the bailout, Dutch Finance Minister Jeroen Dijssebloem said. Cyprus government spokesman ...

  5. Business - Economy - Cyprus

    Cyprus to reopen banks, impose capital controls

    Posted Mar 28th 2013, 01:58am by Reuters in Nicosia

    ... banks on Wednesday evening to meet demand, a source familiar with the situation said. The ECB declined to comment. Finance Minister Michael Sarris has said capital controls will be “within ...

  6. Business - Money - Cyprus

    Cyprus bailout deposit tax rattles global markets

    Posted Mar 18th 2013, 11:17am by Associated Press

    ... the first time that deposits have been tapped to fund an EU nation’s bank bailout. German finance minister Wolfgang Schaeuble said a “no” vote by Cypriot lawmakers would have huge repercussions ...



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