Cyprus is finalizing capital control measures on Wednesday to prevent a run on the banks by depositors anxious about their savings after the country agreed a painful rescue package with international lenders. Cypriots have taken to the streets of Nicosia in their thousands to protest against a bailout deal they […]
Tag: Cyprus
Cyprus reaches last-minute deal on 10-billion euro bailout
Cyprus reached a last-ditch deal with international lenders on a 10 billion euro ($13 billion) rescue plan to avoid economic meltdown, agreeing to close down its second-largest bank and inflict heavy losses on big depositors. The agreement came hours before a deadline to avert a collapse of the banking system […]
European shares rise after Cyprus bailout deal
European shares rebounded and safe-haven German government bonds fell early on Monday after Cyprus clinched a last-ditch deal with lenders to bail out the debt-ridden island and avert a collapse of its banking system. In the early hours of Monday morning Cypriot policy-makers agreed a deal with the European Union, […]
