ECB is reportedly considering a negative deposit rate, meaning eurozone lenders would have to pay the ECB to deposit money with it. <!– remove the whitespace added by escenic before end of tag –> By James Titcomb, and Ben Martin… Read More ›
European Central Bank
EU getting ready to destroy the banks yet again?
Draghi: ‘please don’t destroy Europe’s banks yet again’ By Ambrose Evans-Pritchard Economics Last updated: October 22nd, 2013 El Pais has obtained the devastating letter by the ECB’s Mario Draghi warning Europe’s authorities not to set off yet another conflagration with… Read More ›
Brussels fears European ‘industrial massacre’ sparked by energy costs
Europe’s industry is being ravaged by exorbitant energy costs and an over-valued euro, blighting efforts to reverse years of global manufacturing decline. Mr Tajani warned that Europe’s quixotic dash for renewables was pushing electricity costs to untenable levels, leaving Europe… Read More ›
Ex Cyprus president walks out on public enquiry
Friday, 23 August 2013 Former Cyprus president Demetris Christofias walked out of a public enquiry into the causes of the island’s financial crisis Thursday, declining to answer questions before he had his say. The walkout was criticised by the… Read More ›
Bank of Cyprus cuts deposits over 100K-euro by 47.5%
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 ›
Greece: 2,000 public high school teachers laid off / Next School guards, then city police
60.6% of Greeks in favor of drastic public sector cuts ? (ANSAmed) – ATHENS – A first wave of 2,000 technical public high school teachers, whose jobs parliament abolished last week, were laid off on Monday. The cut is… Read More ›
France ends Austerity measures
Tuesday, 07 May 2013 Finance Minister Pierre Moscovici says French austerity measures are at an end, instead opting for growth. This further complicates the strained relationship between the eurozone’s two largest economies. “We’re witnessing the end of the dogma… Read More ›
Charities, insurers to be included in Cyprus bail-in: 27.5% of Savings will be taken violating previous arrangement
Mon, 22 Apr 2013 04:22 GMT Reuters NICOSIA, April 22 (Reuters) – Cypriot insurance companies and charity organisations will be affected by a bail-in on deposits in an attempt to minimize the broader impact on savers, the island’s central bank… Read More ›
Cyprus bail-out vote stirs fresh jitters as slump fears grow in Europe
Cyprus has stunned EU officials by ordering a vote in its parliament on the terms of the EU-IMF Troika bailout for the country, risking a rejection by angry lawmakers and a fresh eruption of the crisis. The Cypriot parliament threw… Read More ›
What Exactly Is Inside Cypriot Banks? / Almost all Money
Published on Mar 27, 2013 March 27 (Bloomberg) — On today’s “Single Best Chart,” Scarlet Fu looks at assets inside Cypriot banks. She speaks on Bloomberg Television’s “Bloomberg Surveillance.” (Source: Bloomberg) — For more “Bloomberg Surveillance” videos: http://bloom.bg/LGz8Mc — Subscribe… Read More ›
‘Risk of a euro exit by Cyprus is substantial’ – Moody’s
Moody’s Photo: EPA After a disastrous bailout of the Cypriot banking system, one of the world’s top rating agencies downgraded the sovereign rating of Cyprus. One of the concerns cited by Moody’s is the possibility of Cyprus leaving the eurozone…. Read More ›
World’s first bitcoin ATM in Cyprus?
By Poly PantelidesPublished on March 28, 2013 AN ENTREPRENEUR has announced he is keen to introduce in Cyprus the world’s first ATM for virtual currency, bitcoin, which is not regulated by a central bank but has instead been growing… Read More ›
Cyprus bank controls to last a month, minister says
EEV: Real News from Cyprus has become difficult to obtain. Search engines seem to have been re-prioritized for unknown reasons. * For those looking for accurate news from Cyprus, I recommend http://www.cyprus-mail.com/ – . Customers queue up outside… Read More ›
Money was already fleeing Cyprus while president fumbled bailout/ Bank of Cyprus — have units in London which remained open throughout the week and placed no limits on withdrawals
Annika Breidthardt, Luke Baker and Michele Kambas, Reuters | 13/03/26 | Last Updated: 13/03/26 1:26 PM ET More from Reuters Getty ImagesPeople withdraw money from Bank of Cyprus ATM’s while employees gather outside the bank’s headquarters in Athens Friday. BRUSSELS/NICOSIA… Read More ›
IMF/EU will steal €100m from the Church
Church says it will lose €100m Published on March 26, 2013 The Church stands to lose more than 100 million euros in the bailout deal reached with international creditors early Monday, its leader Archbishop Chrysostomos said. “The capital owned… Read More ›
Presidential anger leads to ashtray jibe: IMF Suggested a 60% Levy on Savings
Published on March 26, 2013 SOURCES with access to the Presidential Palace have confirmed that President Nicos Anastasiades at one stage did threaten to resign during tense negotiations with international lenders on Monday morning. Initial reports had Anastasiades telling International… Read More ›
EU in “denial” that sick economy costs lives, health experts say
Wed, 27 Mar 2013 00:01 GMT Reuters * Financial crisis takes heavy toll on health, experts say * Austerity drive blamed for shredding social safety nets * Iceland shows alternative way as health standards hold up By Ben Hirschler LONDON,… Read More ›
Cyprus bank restructuring deal should be considered a template for the rest of the single currency bloc
Dutch Finance Minister and President of the Eurogroup Council Jeroen Dijsselbloem gestures during a joint press conference after a Eurogroup Council meeting at EU headquarters in Brussels on March 25, 2013. Photo: AFP Head of the Eurogroup of eurozone finance… Read More ›
Cyprus bailout: Kremlin ‘could punish Europe’ in reprisal for bank levy
Fears mount that Russia could act against European companies if charge on deposits hits €30bn Russian investments Helena Smith in Nicosia, Simon Goodley and Toby Helm The Observer, Saturday 23 March 2013 15.20 EDT A pressure valve on a Russian… Read More ›
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