Bank of Cyprus' Big Depositors to Lose Up to 60% of Savings
Big depositors at Cyprus' largest bank may be forced to accept losses of up to 60 percent, far more than initially estimated, as part of the country's bankruptcy rescue plan.
cyprus banking crisis
Cyprus' President Urges Cypriots to 'Share the Burden'
Cyprus' president called on the country to "share the burden" of solving its financial crisis Friday as banks opened for normal business for the second day.
As Cyprus' Woes Deepen, Interest in Bitcoin Soars
While Cypriots facing a national banking crisis are eager to get their hands on cold, hard cash, some European investors are betting on the virtual currency known as bitcoin.
Bank Shutdown Hammers Cyprus' Businesses
Banks across Cyprus remain locked Tuesday after financial authorities extended the country's bank closure, fearing worried depositors will rush to drain their accounts.
Wall Street Ends Lower on Renewed Cyprus Worries
Stocks fell on Monday on renewed concerns about Cyprus and the euro zone, which wiped away earlier gains that drove the S&P 500 to less than a point away from its record close.
Cyprus Bailout Deal Approved by European Finance Officials
A deal reached early Monday prevents Cyprus' imminent financial meltdown by securing a last-minute $13 billion bailout.
Cyprus Deal Could Bring U.S. Market Rally
The last-ditch effort to save the banking system in Cyprus should bring a rally when U.S. stock markets open on Monday, according to several investment managers.
Tax on Cyprus Depositors 'Inevitable,' Euro Chief Says
Any bailout of Cyprus will have to involve some kind of levy on depositors, a eurozone finance chief says.
Cyprus Seeks Alternative Solution to Debt Crisis
Cyprus is working on a secondary proposal to stave off bankruptcy, after lawmakers rejected a plan to raise billions of euros by seizing up to 10 percent of people's savings.
Markets Shrug Off Cyprus Rejection of Bailout Plan
Financial markets on Tuesday shrugged off the Cypriot parliament's rejection of a plan to confiscate part of people's bank deposits in order to qualify for an international bailout loan.
Behind Cyprus' Plan to Seize Bank Deposits
A plan to seize up to 10 percent of Cypriot's savings has been met with fury and raised concern, if not panic, in the rest of Europe about the security of bank deposits.
Cyprus Proposes to Exempt Small Savers From Tax
Cypriot finance officials are revising a planned financial bailout to relieve small account holders from having to pay a fee as part of a plan to rescue troubled banks.