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Bailout Cuts Cyprus Bank Accounts, Withdrawals Barred

Cyprus, whose banks were pushed to the edge of default by their exposure to heavily devalued Greek bonds, will get a 10 billion euros ($13 billion) bailout from international lenders, but bank depositors will lose up to nearly 10...

Greece Will Tell Troika: No Public Firings

Inspectors from Greece's international lenders who returned to Athens on March 3 to assess progress on reforms to meet fiscal targets are going to be told that the government will not begin firing of public workers as ordered because...

Associate of Tony Mokbel Files Lawsuit Against ATO

Tom Karas, an associate of Tony Mokbel who has allegedly used the identity of a distant Greek relative from Pylos to avoid tax, files a lawsuit against the ATO. The action marks the latest round of a tax battle worth...

Finance Ministry to Tax Foreign Deposits

The Finance Ministry is planning to “trap” all those who opened foreign deposit accounts exceeding the amount of 100.000 Euros within a single year since 2009. Therefore, it has demanded from banks to send in lists with names, amounts...