Economic Policy
Cyprus MPs study bailout 'Plan B' as meltdown looms
Mar 22, 2013 04:39 EDT
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.
Cyprus parliament delays debate on bailout plan
Mar 22, 2013 04:38 EDT
An emergency session of the Cyprus parliament to race through a raft of bills aimed at raising billions of euros to secure an international bailout was delayed on Friday, local media said.
Cyprus' Sarris leaves Russia without deal
Mar 22, 2013 04:20 EDT
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.
Cyprus launches banking overhaul as meltdown looms
Mar 21, 2013 23:17 EDT
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.
Canada hopes economy picks up to balance budget by 2015
Mar 21, 2013 17:38 EDT
Canada's Tory government pegged a return to a balanced budget and its re-election hopes in 2015 on a strong rebound in the economy on Thursday, after being dealt an unexpected slump in recent months.
S&P cuts Cyprus rating as banking meltdown looms
Mar 21, 2013 17:27 EDT
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.
US stocks drop on Cyprus, weak earnings
Mar 21, 2013 16:54 EDT
US stocks fell Thursday, hit by uncertainty over the Cyprus banking crisis and some surprisingly weak corporate earnings.
S&P cuts Cyprus rating one notch to 'CCC'
Mar 21, 2013 16:24 EDT
Ratings firm Standard & Poor's cut troubled Cyprus' sovereign credit rating by one notch on Thursday citing "acute problems" in Cyprus's banking sector.
Overhaul of Cyprus banks on cards as meltdown looms
Mar 21, 2013 14:24 EDT
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.
FTSE 100 shares close lower
Mar 21, 2013 13:18 EDT
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.
European stocks retreat on disappointing data, Cyprus
Mar 21, 2013 13:17 EDT
European stock markets slid Thursday as disappointing eurozone data and the Cyprus bailout impasse overshadowed strong Chinese economic performance.
Irish economy grows by 0.9% in 2012: official data
Mar 21, 2013 12:32 EDT
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.
Spain borrowing costs dip despite Cyprus crisis
Mar 21, 2013 12:23 EDT
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.
Cyprus banks face meltdown as ECB ready to pull plug
Mar 21, 2013 10:42 EDT
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.
New BoJ chief pledges 'all-out efforts' on deflation
Mar 21, 2013 09:18 EDT
The Bank of Japan's new governor Haruhiko Kuroda on Thursday pledged "all-out efforts" to rid Japan of growth-sapping deflation as gloomy new trade data underlined the scale of the task ahead.
Cyprus sets up investment fund as part of bailout package
Mar 21, 2013 08:09 EDT
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.
Cyprus weighs new bailout plan as meltdown looms
Mar 21, 2013 07:00 EDT
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.
Cyprus poses 'systemic risk': Eurogroup chief
Mar 21, 2013 05:19 EDT
Eurogroup head Jeroen Dijsselbloem said Thursday that the Cyprus debt crisis poses a "systemic risk" that threatens to ricochet right through the eurozone.
Praise for US officials' modest lunch bill in China
Mar 21, 2013 01:58 EDT
Chinese netizens praised the US Treasury chief for eating a cheap dumpling lunch after meeting new President Xi Jinping, comparing his modest bill to the lavish spending habits of domestic officials.
Cyprus to decide on new plan aimed at securing bailout
Mar 20, 2013 23:19 EDT
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.
