29 July, 16:49 (ANSAmed) – NICOSIA, JULY 29 – The Cypriot government on Monday announced depositors at the country’s biggest lender will lose 47.5% of their accounts over the 100,000-euro insurance limit. Government spokesman Victoras Papadopoulos announced the figure as… Read More ›
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 ›
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 ›
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 ›