EU Threatens to Cut Off Cyprus As Russian Rescue Eyed
With the EU-bank levy proposal dead in the water, Cyprus was left scrambling to secure its financial institutions against a complete banking collapse. The Cypriot Finance Minister was in Russia for...
View ArticleLatvia Pushes Back on Assertion It’s Cyprus Two
Latvia, a Baltic state with Euro aspirations, is pushing back on the assertions that Russian deposits in Cyprus will flee to the Baltic country. With a third of its population Russian-speaking, the...
View ArticleRussian Oligarchs Maintain Limited Exposure to Cyprus
Cypriot banks have long been known as a banking haven for Russian savers and businesses. Though to hear the ultra-rich talk about their Cyprus exposure, it is almost non-existent. Whether or not that...
View ArticleFading Cyprus Optimism Hits Asia
As the full implications of the unusual bailout are digested, markets in Asia were in retreat overnight. Most market observers are wondering now if this will be the template for future bailouts, savers...
View ArticleCapital Controls in Cyprus Stir Memories in Iceland
The newly imposed capital controls in Cyprus are creating a stir in Iceland due to their own imposition of controls just five years ago. What was supposed to be temporary has now been essentially...
View ArticleCyprus Capital Controls Continue On
Capital controls have been in place since the Cypriot crisis earlier this year. Now residents and politicians alike are trying to figure out a way to remove them. The head of the central bank said mall...
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Cypriot Deposits in Freefall Jeopardizing Entire Financial System
So much for capital controls. The Cypriot government is learning firsthand as to the environment capital controls create. Especially ones that obviously do not work. With the controls in place for the...
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Capital Controls Are Not Stopping the Slide in Cyprus
Looks like capital controls in Cyprus are not keeping depositors from shifting their money out of the country. After the deposit confiscation earlier this year, there is little wonder as to why the...
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