Sarris
Cyprus
Cyprus Wants Troika Bailout Escape Clause
Already trying to distance itself from the harsh terms to which it agreed in return for a 10 billion euros ($13 billion) bailout from international lenders, Cyprus' new government said it would seek a clause allowing for the removal...
Cyprus
Cypriot Finance Minister Sarris Quits
Cypriot Finance Minister Michalis Sarris, who had been blistered by critics for giving in to tough demands from international lenders to confiscate big bank deposits to trigger a 10 billion euros ($13 billion) bailout, resigned on April 2, after...
Business
Sarris Wanted Confiscation Tax On All Deposits
Instead of a tax of up to 80 percent on big banks accounts, Cyprus Finance Minister Michalis Sarris said that a confiscation tax should have been levied on all depositors in the country's banks, including those under 100,000 euros...
Cyprus
Schaeuble Says Critics Envy Germany
Beaming over Germany's success in imposing its will and forcing Cyprus to confiscate up to 80 percent of uninsured bank deposits to get releae of a 10 billion euros ($13 billion) international loan, much of it coming from his...
Business
Cyprus OK's Partial Bailout Plan
With the clock running fast toward a possible bank collapse and default unless they came up with a plan to raise 5.8 billion euros ($7.5 billion) to secure a 10 billion euros ($13 billion) bailout from international lenders, Cyprus'...
Business
Cyprus' Fate Hangs In The Balance
Cyprus' hopes of finding a way to come up with 5.8 billion euros ($7.5 billion) to secure a 10 billion euros ($13 billion) international bailout to save the country's economy and banks from collapse were dwindling late on March...
Business
Cyprus Moves To Plan C To Avert Default
With its back against the wall and facing a March 25 deadline to try to come up with a plan that would bring in 5.8 billion euros ($7.5 billion) to release a 10 billion euros ($13 billion) international bailout,...
Business
Cyprus Thriller Goes On
The European Union has given Cyprus until March 25 to raise 5.8 billion euros ($7.5 billion) to secure a bailout from international lenders or face the collapse of its banking system and economy and being pushed out of the...
Greece
What's Next for Cyprus? New Plan Explained
After Cyprus’ loud “No” to a demand from international lenders that up to 9.9 percent of bank accounts be seized to help pay for a bailout, and a “loud silence” from Germany, the Cypriot government now has to find...
Cyprus
Cyprus Wants Greece To Pay For Bailout
New Cypriot President Nicos Anastasiades of Cyprus, during a vist to Athens on March 11, will reportedly ask Greek Prime Minister Antonis Samaras to fork over 2 billion euros ($2.6 billion) from its bank recapitalization funds to help pay...