INTERNATIONAL FINANCIAL CRISIS

  • Cyprus details heavy losses for major bank customers March 31, 2013

    Nicosia: Major depositors in Cyprus's biggest bank will lose around 60 per cent of savings over 100,000 euros, its central bank confirmed on Saturday, sharpening the terms of a bailout that has shaken European banks but saved the island from bankruptcy. Initial signs that big depositors in Bank of Cyprus would...
  • Cyprus girds for run on banks after sealing bailout March 26, 2013

    Nicosia: The president of Cyprus assured his people a bailout deal he struck with the European Union was in their best interests and would end anxiety, but he also announced "very temporary" capital controls to stem a run on the island's banks. Returning on Monday from fraught overnight negotiations in Brussels,...