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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
Bank of Cyprus depositors may lose up to 60%
  • Europe
  • March 30, 2013, 09:34

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 close to agreeing bank restructure to save country from financial collapse

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 parliament postpones vote on bailout
  • Europe
  • March 18, 2013, 10:16

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

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