What do we do now? Cyprus.com Editors A quick run-down on the impressively stupid handling of the "Cyprus bailout" by the EU. And, before we go on, we should note that the on-the-ground situation for visitors and tourists is perfectly fine – Cypriots are not prone to rioting and even though the banks are closed,
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European shares fell on Thursday as investors, already jittery over Cyprus's debt crisis, were confronted with data showing Germany's business activity lost steam in March. The data, which suggested Europe's largest economy would eke out meagre growth this quarter, outweighed a pick-up in Chinese factory activity and a commitment by the U.S. Federal Reserve towards
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– ECB decides to maintain Cyprus emergency funds till Monday – Says Cyprus needs EU/IMF plan for the funds thereafter The European Central Bank set Cyprus a Monday deadline to agree a bailout plan, threatening to cut off funding to the islands' cash-strapped banks if a programme is not agreed by then with the EU
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Confusion reigns supreme in the Cyprus bailout. So it is fairly risky to stick out your neck commenting on an unknown outcome that could leave you exposed to ridicule in hours if things change. And this blog is not intended to be a daily or even weekly commentary as I am not providing short-term trading
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Cyprus’s rejection of the European Union’s tax levy plan to finance the country’s bailout has piqued the interest of Russia’s biggest and most important businesses. The proposed levy put over $31 billion of Russian money at risk of taxation, sent Russian stocks to a three month low on March 18. Russian depositors would be especially
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Former President of the Republic Demetris Christofias has dismissed allegations that his government had given its consent for a haircut on Cypriot bank deposits. According to a press release from the former President’s bureau, no discussion on a haircut on bank deposits ever took place during the former government’s consultations with the Troika. It is
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European shares and the euro dipped on Thursday because of concerns over Cyprus but a pick-up in Chinese factory activity and the U.S. Federal Reserve's commitment to its loose policy stance limited the losses. Data showing French Purchasing Managers Indexes (PMI) shrank in March at the fastest pace in four years added to investor's worries,
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Cyprus is in talks with Russia on investments in its banks and energy resources to reduce its debt burden, as well as seeking an extension to an existing Russian bailout loan, Finance Minister Michael Sarris said on Thursday. "The banks are the ultimate objective in any support we get, so it'll either be a direct
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Bankers in Europe will have one final bonus season before they are barred from awarding themselves payouts worth more than their salary, EU lawmakers agreed on Wednesday, paving the way for the first cap of its kind globally. The cap is designed to address public anger at a bonus-driven culture many European politicians believe encouraged
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Asian shares inched higher and the dollar steadied on Thursday, as a pick-up in Chinese factory activity and a commitment by the U.S. Federal Reserve to its aggressive stimulus stance soothed sentiment rattled by wrangling over a bailout plan for Cyprus. European markets, however, were expected to ease as investors await negotiations over the Cyprus
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