Euro Zone

Euro ZoneBay Ledger News Zonebill@blnz.comtag:www.blnz.com,2009:orgs/euro_zoneCyprus MPs study bailout 'Plan B' as meltdown loomstag:www.blnz.com,2009:2013/03/22/Cyprus_study_bailout_Plan_meltdown_bc60

Cyprus is scrambling to overhaul its banking sector to avoid financial meltdown, after the European Central Bank threatened to pull the plug on emergency funding for the island's lenders.

2013-03-22T08:39:33ZAFP Global Editionby Charlie CharalambousCyprus' Sarris leaves Russia without dealtag:www.blnz.com,2009:2013/03/22/Cyprus_Sarris_leaves_Russia_without_5ddc

Cypriot Finance Minister Michalis Sarris left Moscow on Friday after two days of talks aimed at securing a financial lifeline from Russia without reaching an agreement.

2013-03-22T08:20:58ZAFP Global Editionby Maria PaninaCyprus launches banking overhaul as meltdown loomstag:www.blnz.com,2009:2013/03/21/Cyprus_launches_banking_overhaul_meltdown_cd56

Cyprus is scrambling to overhaul its banking sector to avoid financial meltdown, after the European Central Bank threatened to pull the plug on emergency funding for the island's lenders.

2013-03-22T03:17:57ZAFP Global Editionby Charlie CharalambousS&P cuts Cyprus rating as banking meltdown loomstag:www.blnz.com,2009:2013/03/21/cuts_Cyprus_rating_banking_meltdown_ec3b

Ratings firm Standard & Poor's dealt a further blow to reeling Cyprus Thursday, cutting its credit rating as the eurozone country struggles to avoid a banking sector meltdown.

2013-03-21T21:27:18ZAFP Global EditionBy Staff ReporterItaly president to unveil decision on new government Fridaytag:www.blnz.com,2009:2013/03/21/Italy_president_unveil_decision_government_bba8

Italian President Giorgio Napolitano said he will announce on Friday his decision on who will be asked to form a government after inconclusive elections in the austerity-stricken country and amid rising tensions in the eurozone.

2013-03-21T21:21:01ZAFP Global Editionby Ella IdeUS stocks drop on Cyprus, weak earningstag:www.blnz.com,2009:2013/03/21/stocks_drop_Cyprus_weak_earnings_24e0

US stocks fell Thursday, hit by uncertainty over the Cyprus banking crisis and some surprisingly weak corporate earnings.

2013-03-21T20:54:52ZAFP Global EditionBy Staff ReporterOverhaul of Cyprus banks on cards as meltdown loomstag:www.blnz.com,2009:2013/03/21/Overhaul_Cyprus_banks_cards_meltdown_bc0d

Cyprus Thursday was examining an overhaul of its banking sector to avoid financial meltdown after the European Central Bank threatened to pull the plug on emergency funding for the island's banks.

2013-03-21T18:24:50ZAFP Global Editionby Charlie CharalambousCyprus brinksmanship could spin out of control: analyststag:www.blnz.com,2009:2013/03/21/Cyprus_brinksmanship_could_spin_control_8fce

As the EU raised the spectre of a eurozone exit for Cyprus, experts warned on Thursday of the consequences of brinksmanship from Brussels to Moscow in the race to fix new bailout terms.

2013-03-21T17:41:29ZAFP Global EditionBy Staff ReporterFTSE 100 shares close lowertag:www.blnz.com,2009:2013/03/21/FTSE_shares_close_lower_0b81

London shares closed lower on Thursday as traders looked past positive economic data to focus on bleak eurozone news, notably fallout from the Cyprus bailout impasse.

2013-03-21T17:18:27ZAFP European EditionBy Staff ReporterEuropean stocks retreat on disappointing data, Cyprustag:www.blnz.com,2009:2013/03/21/European_stocks_retreat_disappointing_data_ce55

European stock markets slid Thursday as disappointing eurozone data and the Cyprus bailout impasse overshadowed strong Chinese economic performance.

2013-03-21T17:17:04ZAFP Global EditionBy Staff ReporterSpanish banks see profits after 'horrific' 2012tag:www.blnz.com,2009:2013/03/21/Spanish_banks_profits_after_horrific_496f

Spain's battered banks predicted Thursday they will turn a profit this year after a "horrific" 2012 in which the overall industry recorded losses for the first time in its history.

2013-03-21T17:15:44ZAFP Global Editionby Amelie BaubeauClosure fears spark run on Cyprus Popular Banktag:www.blnz.com,2009:2013/03/21/Closure_fears_spark_Cyprus_Popular_c821

Anxious Cypriots queued outside Popular Bank ATM machines on Thursday to withdraw their cash as fears rose that the country's banking meltdown will mean its second largest bank closes for good.

2013-03-21T16:55:27ZAFP Global Editionby Jay DeshmukhIrish economy grows by 0.9% in 2012: official datatag:www.blnz.com,2009:2013/03/21/Irish_economy_grows_09_2012_556f

Ireland's bailed-out economy grew by 0.9 percent in 2012 but stagnated in the final quarter of the year, official data for the troubled eurozone nation showed on Thursday.

2013-03-21T16:32:06ZAFP Global EditionBy Staff ReporterSpain borrowing costs dip despite Cyprus crisistag:www.blnz.com,2009:2013/03/21/Spain_borrowing_costs_despite_Cyprus_a931

Spain's borrowing costs dipped in a bond auction Thursday, easing concerns that a feared banking meltdown in Cyprus could scare investors away from other troubled eurozone states.

2013-03-21T16:23:11ZAFP Global EditionBy Staff ReporterCyprus banks face meltdown as ECB ready to pull plugtag:www.blnz.com,2009:2013/03/21/Cyprus_banks_face_meltdown_ready_b114

The European Central Bank warned Thursday it was ready to pull the plug on emergency funding for Cyprus banks as the island's politicians scrambled to raise billions of euros to head off financial meltdown.

2013-03-21T14:42:14ZAFP Global Editionby Charlie CharalambousEuropean stocks head lower againtag:www.blnz.com,2009:2013/03/21/European_stocks_head_lower_again_7d19

European stock markets slid Thursday as traders looked past strong Chinese economic data to focus on bleak eurozone news, notably fallout from the Cyprus bailout impasse.

2013-03-21T14:34:45ZAFP Global EditionBy Staff ReporterCyprus sets up investment fund as part of bailout packagetag:www.blnz.com,2009:2013/03/21/Cyprus_sets_investment_fund_part_9e3a

Cyprus politicians Thursday agreed to set up an investment fund as part of a Plan B to secure a bailout deal with eurozone lenders, while ruling out a tax on bank deposits that sank an earlier deal.

2013-03-21T12:09:38ZAFP Global EditionBy Staff ReporterCyprus weighs new bailout plan as meltdown loomstag:www.blnz.com,2009:2013/03/21/Cyprus_weighs_bailout_plan_meltdown_4ab8

Cyprus was on Thursday fine-tuning a "Plan B" aimed at securing a eurozone bailout that the European Central Bank warned should be adopted by the weekend to avoid a banking meltdown on the debt-hit island.

2013-03-21T11:00:41ZAFP Global Editionby Charlie CharalambousCyprus poses 'systemic risk': Eurogroup chieftag:www.blnz.com,2009:2013/03/21/Cyprus_poses_systemic_risk_Eurogroup_b42c

Eurogroup head Jeroen Dijsselbloem said Thursday that the Cyprus debt crisis poses a "systemic risk" that threatens to ricochet right through the eurozone.

2013-03-21T09:19:39ZAFP Global EditionBy Staff ReporterCyprus to decide on new plan aimed at securing bailouttag:www.blnz.com,2009:2013/03/20/Cyprus_decide_plan_aimed_securing_6a78

Cypriot leaders are to decide on Thursday on a newly drawn up plan aimed at securing a bailout for the near-bankrupt eurozone member, after parliament rejected a controversial tax on savings.

2013-03-21T03:19:50ZAFP Global EditionBy Staff Reporter