Mar 19, 2013 16:44 EDT
Angry MPs on Tuesday rejected the terms of a bailout aimed at saving Cyprus from bankruptcy, decrying as "blackmail" a deal that had been reached with a troika of lenders that now lies in tatters.
Mar 19, 2013 13:19 EDT
Europe's main stock markets suffered further losses and the euro slid on Tuesday as Cyprus' international bailout appeared close to unravelling.
Mar 19, 2013 13:17 EDT
The speaker of the Cypriot parliament on Tuesday urged MPs to say "no to blackmail" in a vote on a eurozone bailout aimed at saving the Mediterranean island from bankruptcy.
Mar 19, 2013 13:00 EDT
London shares closed lower as the 10 billion euros Cyprus bailout deal appeared headed for the rocks with MPs for the president's own party saying they wouldn't vote for it.
Mar 19, 2013 12:38 EDT
Irish Finance Minister Michael Noonan said Tuesday the European Parliament has approved setting up a single eurozone bank supervisor which supporters say will help stop troubled banks forcing their governments to seek bailouts.
Mar 19, 2013 12:28 EDT
The Bank of Japan's outgoing governor on Tuesday acknowledged he failed to end the country's long-running deflation
Mar 19, 2013 12:04 EDT
Cyprus turned to Russia on Tuesday as President Nicos Anastasiades battled to garner support from lawmakers for a controversial eurozone bailout deal that the central bank warned was in danger of collapse.
Mar 19, 2013 12:00 EDT
The controversial levy on bank savings in Cyprus will not be repeated in other European countries, Eurogroup chairman Jeroen Dijsselbloem said on Tuesday, saying a unique situation had gripped Nicosia.
Mar 19, 2013 11:28 EDT
British finance minister George Osborne will order ministries to make a further £2.5 billion in cuts over the next two years in his budget this week, the government said Tuesday.
Mar 19, 2013 10:49 EDT
Europe's main stock markets dipped on Tuesday ahead of a key parliamentary vote in Cyprus on a crucial bailout deal that sent global share prices reeling the previous day.
Mar 19, 2013 08:41 EDT
Cyprus on Tuesday dropped a controversial levy on bank savings below 20,000 euros, sparking a warning by the central bank governor that the crucial eurozone bailout deal was now in danger of collapse.
Mar 19, 2013 07:12 EDT
Asian markets mostly rebounded on Tuesday while the yen fell against the dollar and euro as concerns over the eurozone abated on news Cyprus was reworking a controversial savings levy.
Mar 19, 2013 07:02 EDT
Athens is "ready" to absorb the subsidiaries of three Cyprus banks active in Greece, the Greek finance minister said as the eurozone sought to amend a controversial levy on the island nation's bank deposits.
Mar 19, 2013 06:50 EDT
Investor sentiment in Germany inched higher in March to the highest level for more than three years, with analysts convinced that the outlook for Europe's top economy remains bright, a new survey found on Tuesday.
Mar 19, 2013 06:15 EDT
A revised Cyprus bailout plan drops a controversial tax on bank savings below 20,000 euros but retains the levy at 6.75 percent on deposits of 20,000-100,000 euros and 9.9 percent above 100,000, according to an amended tax bill seen Tuesday by AFP.
Mar 19, 2013 03:01 EDT
Beijing and Washington have "enormous shared interests", China's new President Xi Jinping told the US Treasury chief on Tuesday in his first major diplomatic meeting since taking office.
Mar 19, 2013 02:02 EDT
The eurozone has told debt-hit Cyprus to revise a controversial levy on bank deposits to allow small savers to escape the tax, part of a larger bailout deal, amid a public outcry and fears of a bank run.
Mar 19, 2013 01:50 EDT
Russians are preparing to withdraw billions of euros from Cyprus and the island will plunge into a recession lasting for decades due to the onerous terms of an EU bailout, economists warned.
Mar 18, 2013 19:11 EDT
The eurozone told Cyprus on Monday to ditch the part of a hugely controversial 5.8-billion-euro grab on savings that stung even the smallest of account holders in exchange for a 10-billion-euro sovereign bailout deal, according to a statement issued after a conference call.
Mar 18, 2013 18:13 EDT
US stocks fell for a second straight day Monday as the Cyprus banking crisis sent jitters through markets.