Could the U.S. Do Like Cyprus and Seize Bank Deposits?
Cyprus' attempt to raid insured bank accounts has left a bad taste in the mouths of people around the world, and led some to ask: Could it ever happen here in America?
european union
French Tax on Million-Euro Salaries Won't Exempt Soccer Teams
France's revamped 75 percent super-tax on annual salaries above €1 million will apply to all companies, including soccer clubs, which were thought to be exempt.
Cyprus' President Appoints Judges to Investigate Economic Crash
Cyprus' president has appointed a panel of three former supreme court judges to investigate how the country ended up nearly bankrupt.
Eurozone Joblessness Rises to a Record 12%
Unemployment across the 17 European Union countries that use the euro has struck 12 percent for the first time since the currency was launched in 1999, official figures show.
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.
Banks Reopen in Cyprus for First Time in Nearly 2 Weeks
Banks in Cyprus opened their doors on Thursday for the first time in almost two weeks, with tight controls on transactions to prevent a run on deposits.
Uncertainty Drives Down Confidence in Eurozone Economy
Confidence in the eurozone's economy worsened in March, falling after four straight months of gains and suggesting a hard route out of recession, fresh data show.
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.
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.
Talks With Russia to Avert Cyprus Financial Crisis Fail
Talks between Russian officials and the Cypriot government broke up early Friday, with no agreement on a cash infusion to help the tiny island nation secure an EU bailout.
Cyprus Scrambles to Devise Plan to Avert Banking Crisis
Cypriot officials are scrambling to cement a revised plan to raise funds demanded by international creditors in exchange for an international bailout.
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.