BRUSSELS/NICOSIA (Reuters) – The euro zone agreed on Saturday to hand Cyprus a bailout worth 10 billion euros (8.6 billion pounds), but demanded depositors in its banks forfeit some money to stave off bankruptcy despite the risk of a wider run on savings.
The eastern Mediterranean island becomes the fifth country after Greece, Ireland, Portugal and Spain to turn to the euro zone for financial help during the region’s debt crisis.
BRUSSELS (Reuters) – The euro zone struck a deal on Saturday to hand Cyprus a bailout worth 10 billion euros ($13 billion), but demanded depositors in its banks forfeit some money to stave off bankruptcy despite the risks of a wider bank run.
Cyprus becomes the fifth country after Greece, Ireland, Portugal and Spain to turn to the euro zone for financial help in the wake of the region’s debt crisis.
BRUSSELS, March 15 (Reuters) – Inflation pressures in the
euro zone are easing, data showed on Friday, giving governments
and central bankers a touch more leeway for stimulus as the
region’s leaders seek to shift their focus to reviving economic
Modest wage growth and a cooling of food price pressures
drove annual euro zone inflation down to 1.8 percent in
February, its lowest level since mid-2010, the EU’s statistics
office said on Friday.
BRUSSELS, March 14 (Reuters) – The European Union told
Russia on Thursday to drop restrictions on its exports or face a
legal dispute at the World Trade Organisation ahead of meetings
in Moscow next week aimed at dealing with a series of conflicts.
Struggling to narrow differences with Russia on issues
ranging from Syria to energy, the European Commission said a fee
on imported cars flouted WTO rules that Moscow promised to
adhere to when it joined the global trade body last August.