BRUSSELS, March 21 (Reuters) – Russia is not going to come
to Cyprus’s rescue with new loans and any bailout of the
Mediterranean island will have to involve some kind of levy on
depositors, the man leading the euro zone’s efforts to reach a
deal said on Thursday.
Cyprus has faced the prospect of bankruptcy since Tuesday
when its parliament voted unanimously against a levy on bank
deposits to raise almost 6 billion euros ($7.5 billion) demanded
by the euro zone, in addition to a 10 billion euro rescue.
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.