Cyprus May Pre-Sell Gas To Ease Crisis
- Menelaos Hadjicostis - Associated Press
- •
- May 17, 2013
NICOSIA, Cyprus (AP) — Cyprus may sell the country's offshore natural gas reserves in advance before they are found to raise cash quickly and pull it out of its deep financial crisis, the country's fi...
Kasoulides Says Cyprus Mulled Leaving Eurozone
Cypriot Foreign Minister Ioannis Kasoulides said his country, pressured by international lenders to accept onerous conditions that eventually included confiscation of up to 80 percent or more of big b...
Fearing Bank Run, Cyprus Keeps Withdrawal Limits
Cyprus will keep in place strict capital controls it imposed to prevent people from taking money out of bank accounts the government is confiscating to pay for mistakes made by bank managers that brou...
Cyprus Bailout Revisited: Depositors Will Pay
- Holman Jenkins, Jr. - Wall Street Journal
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- May 08, 2013
A couple of months ago Cyprus sent a quake through the world financial system. What has Cyprus done for us lately? Given us an example of what a “bail-in” as unprincipled as previous bailouts looks li...
Russia Gives Cyprus Break On Loan
Beleaguered Cyprus got some relief from its economic crisis when Russia agreed to allow two more years for repayment on a 2.5 billion euros ($3.26 billion) loan and lower the interest rate from 4.5 to...
Cypriot Parliament Barely Approves Bailout
NICOSIA – By a razor thin 29-27 margin, Cypriot lawmakers on April 30 approved the terms of an international bailout that required big confiscations of bank accounts and austerity measures that the go...
Cypriot Parliament Prepares For Bailout Vote
NICOSIA - Cyprus’ lawmakers are voting April 30 on a bailout agreement aimed at preventing the country from going bankrupt that includes 10 billion euros ($13 billion) from international lenders but r...
Economic Crisis Slows Peace Pace In Split Cyprus
- Menelaos Hadjicostis - Associated Press Writer
- •
- April 27, 2013
NICOSIA, Cyprus (AP) — When the barriers carving Cyprus in half were finally breached 10 years ago this week, Turkish Cypriot Fethi Akinci forged what some might consider the unlikeliest of friendship...
Cyprus Further Eases Limits on Money Transfers
- Menelaos Hadjicostis - Associated Press Writer
- •
- April 26, 2013
NICOSIA, Cyprus (AP) — Cyprus has significantly eased restrictions on money transfers inside and outside the country to help businesses spur a deeply slumping economy.
The Finance Ministry said that ...
Cyprus Plans Casinos To Restart Crippled Economy
NICOSIA, Cyprus (AP) — Cyprus' President says that the bailed-out country will open casinos and bolster its tourism sector to get the economy going again.
Nicos Anastasiades unveiled a first batch of...
Anastasiades Says Cyprus Needs More Help
A coming bailout of 10 billion euros ($13 billion) from international lenders won’t be enough to keep his island country’s economy from toppling, Cypriot President Nicos Anastasiades said as he annou...
Cyprus Bailout Cost Soars Past $30 Billion
Cyprus, still waiting for a first bailout of 10 billion euros ($13 billion) to keep its banks and economy from collapsing, and raising 7 billion euros ($9.19 billion) on its own, will have to come up ...
Cyprus Crisis Ruins Dying Father’s Plans For Kids
- Menelaos Hadjicostis - Associated Press Writer
- •
- April 09, 2013
NICOSIA, Cyprus (AP) — When Costas Kalapodas was diagnosed with brain cancer two years ago and given months to live, he saw one sure place to put his money: Cyprus’ biggest bank. The 43-year-old threw...
Ex-Bank Officials Named in Cyprus Inquiry
By LANDON THOMAS Jr.
LONDON. (NEW YORK TIMES) — Two of the most senior executives at Bank of Cyprus may have deleted crucial e-mail documents last year related to what proved to be a disastrous dec...
Cyprus Promises New Measures to Secure Rescue
By ALKMAN GRANITSAS, MATINA STEVIS and PHILIP PANGALOS (Wall Street Journal)
Cyprus will limit first-class travel for senior officials, make it easier for banks to seize a person's home, and cut Ea...
ECB to face Cyprus questions at rate meeting
DAVID McHUGH,AP Business Writer
FRANKFURT, Germany (AP) — European Central Bank President Mario Draghi will try Thursday to reassure markets that Cyprus's chaotic bail-out won't worsen the euro c...
Cyprus Wants Easier Troika Bailout Terms
- Andy Dabilis
- •
- April 02, 2013
Awaiting a 10 billion euros ($13 billion) rescue package from international lenders, the Cypriot government is already planning to ask for more lenient conditions on attached austerity measures when t...
Big Losses For Cypriots, Debts Forgiven For Politicians
- Andy Dabilis
- •
- March 30, 2013
As Bank of Cyprus officials said that uninsured depositors with more than 100,000 euros ($130,000) would lose 37.5 percent of their money and those in the soon-to-closed Laiki Bank could lose 80 perce...
Cyprus banks re-open; limits on transactions
MENELAOS HADJICOSTIS
NICOSIA, Cyprus (AP) — Banks in Cyprus have reopened to customers for the first time in nearly two weeks, with customers now able to access their accounts, albeit with strict...
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