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Cyprus crisis

Turkey: Cyprus Crisis is Chance to End Division

Turkish President Abdullah Gul said on Wednesday the financial crisis in Cyprus presented an “important opportunity” to end the division of the island, split between the Greek Cypriot south and Turkish north. The Mediterranean island concluded a $13 billion bailout...

Greece and Cyprus Leave Eurozone, Adopt Dralira

Saying they would no longer put up with being told what to do and to keep imposing pay cuts, tax hikes, slashed pensions and seizing bank accounts so that foreign bankers putting up bailout loans could be paid back,...

Schaeuble: Cyprus is a "special case"

German Finance Minister Wolfgang Schaeuble has said savings accounts in the eurozone are safe, adding that Cyprus is a "special case" and not a template for future rescues. In an interview with Bild newspaper published on Saturday, Schaeuble distanced himself...

Big Solidarity Concert in Cyprus

A solidarity concert under the title Cyprus Aid is scheduled for April 1 at Tafros Costanza in Nicosia with 50 artists from Greece and Cyprus participating in an eight-hour even that will begin at 4 p.m. and end at...

Cyprus Crisis Burns Russian Investors

For years, construction companies in Cyprus lured Russians to invest in the Mediterranean island. Over the last decade, 40,000 Russians moved to Cyprus. They now make up five percent of the population. The lure, however, was more than just trading...

Cyprus' Banks Reopen To Crowds

After being closed for two weeks while the government negotiated a bailout deal with international lenders that will see depositors holding uninsured accounts of more than 100,000 euros losing as much as 80 percent of their money - and...

Cyprus' Crisis Could Last For Years

The Cypriot banking crisis is yet another blow to the Eurozone system, but it is the Cypriot people who are experiencing the true impact of the embattled banks and the imposed haircut of the Troika. Some experts claim that the...

Cyprus to Restrict Money Flow within Eurozone

Cyprus is imposing unprecedented controls on Cypriot bank depositors moving their money within the common euro currency union as it looks to reopen its banks Thursday. Cypriot Finance Minister Michael Sarris said the controls are necessary to restore confidence in...

Cyprus Finance Minister: Uninsured Laiki Depositors Could Face 80% Haircut

Cyprus΄s finance minister said Tuesday that large deposit holders at Cyprus Popular Bank PCL (CPB.CP), the island΄s second biggest lender, could face losses of as much as 80% on their deposits as the government moves to wind down its...

Cyprus' Banks to Remain Closed until Thursday

Cyprus ordered banks to remain closed for two more days over fears of a run by customers trying to get their money out, after striking a pre-dawn bailout deal Monday that averted the country's imminent bankruptcy. The sudden midnight postponement...