A man walks past a closed branch of the Bank of Cyprus in Nicosia. Photograph: Angelos Tzortzinis/The New York Times

International lenders concluded a fifth review of Cyprus’s economy today, saying the island was making “relatively good progress” after a bailout last(...)

Europe has demanded that large depositors in the country’s two largest banks — Bank of Cyprus and Laiki Bank — accept across-the-board losses in order to pay for the €16 billion bailout. Photograph:  Bogdan Cristel/Reuters

Large depositors at Cyprus’s largest bank may be forced to accept losses of up to 60 per cent, far more than initially feared under the Europea(...)

People queue up to make a transaction at an ATM outside a branch of Laiki Bank in Nicosia, Cyprus today. Photograph: Yannis Behrakis/Reuters.

Cyprus looks close to agreeing a new proposal to radically restructure its banking sector in a desperate effort to avoid default and financial (...)

A man withdraws money from an automatic teller machine at a branch of Bank of Cyprus. A euro zone proposal would see Cyprus receive a bailout worth ¤10 billion but it has demanded depositors in its banks forfeit some money to stave off bankruptcy. Photograph: Reuters

Cyprus has postponed its parliamentary vote on a bank deposits levy until tomorrow.  Yiannakis Omirou, the speaker of parliament, said the(...)