Cyprus

Europe, Russia, and the Mess in Cyprus

Europe, Russia, and the Mess in Cyprus

Jacob Heilbrunn

March 19, 2013

If you were a stolid burgher living in prosperous Bavaria who had conscientiously salted away his savings over the past several decades, would you really want to hand them over to Greece, Portugal, and even Cyprus?

Cyprus: panic as savings levy is imposed

 Cyprus: panic as savings levy is imposed

 * Paul Gallagher and Helena Smith * guardian.co.uk, Saturday 16 March 2013 19.14 GMT * 

Cypriots reacted with shock that turned to panic on Saturday after a 10% one-off levy on savings was forced on them as part of an extraordinary 10bn euro (£8.7bn) bailout agreed in Brussels.

Hungary and Cyprus Hijack EU Summit

 Hungary and Cyprus Hijack EU Summit

By SPIEGEL ONLINE Staff

With reporting by Christian Teevs in Brussels and information from wire reports

15 March 2013

 

Stalled economic growth and high unemployment were supposed to be the focus of this week's European Union summit in Brussels.

Cyprus Gains Support as EU Seeks to Prevent Crisis Flare

 Cyprus Gains Support as EU Seeks to Prevent Crisis Flare

 Rebecca Christie and Patrick Donahue, Business Week, 14 March 2013

European political chiefs paved the way for finance ministers to wrangle a rescue for Cyprus today as the euro area seeks progress toward a bailout that’s been batted about for nine months.
“I can’t imagine that we’ll let the weekend go by without resolving the Cyprus problem,” Luxembourg Prime Minister Jean- Claude Juncker said early today after euro leaders met midway through a two-day European Union summit in Brussels. The EU gathering ends today with a 27-nation discussion of foreign policy, to be followed by a euro-area ministers’ meeting.

‘The road is not strewn with rose petals’

 ‘The road is not strewn with rose petals’

Daily Mail, 10 March 2013

EU commissioner warns on Cyprus

EU commissioner warns on Cyprus

SBS, 4 March 2013

The European economic affairs commissioner has warned if Cyprus becomes bankrupt in a disorderly way, it would likely mean an exit from the eurozone.
European Economic Affairs Commissioner Olli Rehn has warned that debt-riven Cyprus could exit the eurozone without a bailout in an interview with a German news weekly.
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