SPIEGEL ONLINE - 28.03.2013
Many had feared that Cyprus would experience a bank run once financial institutions were reopened. That did not happen on Thursday, but frustration levels are high, as are fears for the country's economic future. By Stefan Schultz in Nicosia more... [ Forum ]
SPIEGEL ONLINE - 27.03.2013
Banks have been closed and accounts frozen in Cyprus recently. Nevertheless, large amounts were moved out of the country's crippled financial institutions on the eve of the bailout package. Lawmakers are suspicious and are investigating both the government and the Cypriot central bank. By Stefan Schultz in Nicosia more... [ Forum ]
SPIEGEL ONLINE - 26.03.2013
The Cypriot government was willing to do anything to save its banking industry. Yet Berlin, driven by a deep-seated fear of tax havens, sought the opposite. The resulting deal may have driven a stake through the heart of the euro-zone's much ballyhooed banking union. A Commentary by Tyson Barker more... [ Forum ]
SPIEGEL ONLINE - 26.03.2013
With Cyprus racing to install capital controls before re-opening its banks on Thursday, German media commentators say the island has only itself to blame for its plight. They also warn though that the tough bailout terms are a fresh sign of waning solidarity among euro-zone member states. more... [ Forum ]
SPIEGEL ONLINE - 25.03.2013
Russia has sharply criticized the bailout deal for Cyprus, with Prime Minister Dmitry Medvedev accusing the EU of theft. Russian state television even likened the forced levy imposed on wealthy investors -- many of them Russian -- to the expropriation of Jews by Nazi Germany. By Benjamin Bidder in Moscow more... [ Forum ]
SPIEGEL ONLINE - 25.03.2013
A Cypriot exit from the euro zone has been averted by a last-minute deal in which the government bowed to the demands of international lenders. Rich depositors, including wealthy Russians, will face heavy losses in return for a 10 billion euro bailout, and the island's banking sector will be radically downsized. By Carsten Volkery more... [ Forum ]
SPIEGEL ONLINE - 21.03.2013
Jim O'Neill, who coined the acronymn BRIC for emerging nations, plans to leave his post at Goldman Sachs this year. In an interview with SPIEGEL ONLINE, he discusses the banking industry and why he still sees a bright future for China and Russia. By Erich Follath more...
SPIEGEL ONLINE - 21.03.2013
The disastrous financial situation in Cyprus is largely a result of the country's crumbling banks. For years, the island nation profited from its bloated financial sector, but now it will likely have to liquidate its two largest banks. In Nicosia, government leaders fear that could decimate the economy. By Stefan Kaiser more... [ Forum ]
SPIEGEL ONLINE - 19.03.2013
Changes are coming to the bailout package for Cyprus, but people in the country are furious nonetheless. A forced levy on savings accounts in the country has enraged depositors and brought protesters onto the streets. Germany is the focus of their anger. By Nicolai Kwasniewski in Nicosia more... [ Forum ]
SPIEGEL ONLINE - 18.03.2013
René Brülhart, 40, has been the director of the Vatican's Financial Information Authority (FIA) for nearly half a year. The Swiss lawyer and former head of Liechtenstein's financial intelligence unit is on a mission to clear the Vatican Bank of all suspicions of money laundering and other illegal financial transactions. more... [ Forum ]
SPIEGEL ONLINE - 18.03.2013
Fear returned to the euro crisis on Monday after Cyprus' international creditors demanded that both the wealthy and ordinary depositors be forced to participate in the country's bailout. Investors and politicans are worried the move could have an impact on banks across Europe. By Stefan Kaiser more...
SPIEGEL ONLINE - 18.03.2013
The euro-zone deal to save Cyprus from bankruptcy was hard-fought, and a long time coming. But the conditions placed on the bailout, namely a one-time tax on all bank deposits, have sparked fury in Cyprus and abroad. Parliamentary approval in Nicosia is far from certain. By Severin Weiland and Philipp Wittrock more...
