Tag: Cyprus

Cyprus €10bn Bank Rescue Deal Takes Aim at Depositors

Cyprus €10bn Bank Rescue Deal Takes Aim at Depositors

  Cyprus has negotiated a weekend €10 billion ($13 billion) bank rescue due. The deal will end up with a bail-in on junior bondholders and a one-time tax on depositors. Deposits below 100k will be taxed 6.75%, and those above 9.9%, for a […]

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Eurozone Unemployment Hits New Record High

Official figures from Eurostat, EU’s statistics office, show that unemployment in the debt-immersed Eurozone rose to a record high of 11.6 percent in September.  The high unemployment rate, coupled with struggles to reduce government spending, underscored the uncertain nature of […]

Cyprus Requests Urgent Help: Breaking

Cyprus Requests Urgent Help: Breaking

Breaking: Cyprus call 911 Frankfurter Allgemeine Zeitung: Cyprus asks for emergency help from the European Central Bank (EFSF or ESM): 1)      Russia has offered 5 billion EUR – which might have uncomfortable strings attached. 2)      GDP of Cyprus: 17.5 billion […]

Cyprus To Seek Bailout After Greek Ripple Effect

Cyprus To Seek Bailout After Greek Ripple Effect

Cyprus, the small Island neighboring crisis struck Greece, is on the verge of following in the footsteps of its nighbor. Michalis Sarris, Popular Bank’s chairman is pleading for help to help the nation through its financial crisis. Sarris believes that […]

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What’s the short term plan for the EU?

What’s the short term plan for the EU? Sometimes it is smart to look, at the more humble news stories in obscure papers. It just might make some pieces fall into place: A quote from a European Newspaper “Margrethe Vestager […]