It takes a big person to acknowledge he was wrong, and the International Monetary Fund has now repeatedly admitted to the failure of its euro-area rescue policies.
- Thu
- Oct 3, 2013
- Updated: 5:05pm
31 Mar 2013
Big savers in Cyprus' largest bank face losses of up to 60 per cent, far greater than originally feared under the island's controversial European Union-led bailout plan, officials said.
6:22AM
28 Mar 2013
Cyprus reopens its banks on Thursday while limiting withdrawals, banning cheques and curbing the use of Cypriot credit cards abroad, among measures imposed to avert a bank run after it agreed a...
8:02AM
27 Mar 2013
What has set Cyprus apart is that it is one of the smallest members of the euro zone, with a failed banking system much bigger than its economy. Likewise, the €10 billion (HK$101 billion) rescue...
3:09AM
26 Mar 2013
Cyprus warned that “superhuman” efforts were needed to reopen its banks by Thursday as protests and uncertainty about the island’s top lender showed that its huge bailout had not ended its...
4:34AM
26 Mar 2013
Cypriots face years of economic hardship due to a harsh euro-zone bailout deal, analysts said yesterday, while the Mediterranean island's future in the currency remains deeply uncertain. The...
5:08AM
What started off as a botched rescue of the banking system in Cyprus has morphed into geopolitical brinkmanship between Russia and the European Union. It now looks like a fight over who will bail...
4:00AM
Cyprus President Nicos Anastasiades has demanded that a decision on a bailout deal for the near-bankrupt eurozone member must be made on Thursday, the official CNA news agency reported.
6:10PM
Cyprus’ government has drawn up a new plan to raise funds needed for the country to secure a crucial international bailout, three top government officials said on Thursday.
8:57AM
The European Union finally decided to force Cyprus' savers into a bailout after the tiny Mediterranean island's banks grew so large that they dwarfed its economy - a situation alarmingly similar...
2:12AM
Hong Kong stocks had their largest fall in more than a month yesterday, led by HSBC, as plans by Cyprus to levy an unexpected tax on bank deposits triggered fresh worries over financial stability...
5:24AM
Stocks around the world and the euro fell sharply Monday as investors fretted over a plan to tax depositors in Cypriot banks as a way to partly fund a bailout of the Mediterranean island nation....
11:58PM
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23 Sep 2013
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