Cyprus and the EU

Latest business news about Cyprus and the European Union.

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EU warns Latvia about non-resident banking — 16 January 2013, 22:46 CET

The European Commission warned eurozone aspirant Latvia on Wednesday to guard against growing banking sector imbalances and to closely monitor the identity of non-resident account holders.

Russia hints at laxer Cyprus debt rules — 11 January 2013, 14:30 CET

Russia said on Friday it was ready to loosen the terms under which debt-ridden Cyprus had to repay loans which Russia had made to its close trading partner.

No deal this month on Cyprus bailout: Juncker — 10 January 2013, 14:22 CET

Cyprus, the next eurozone bailout candidate after Greece, Ireland and Portugal, is unlikely to see a rescue accord agreed this month, eurogroup head Jean-Claude Juncker said Thursday.

Merkel says 'no special conditions' for Cyprus bailout — 09 January 2013, 17:33 CET

German Chancellor Angela Merkel said on Wednesday that Cyprus would not be allowed any exceptional terms from its European partners as it seeks a bailout worth 17 billion euros ($22 billion).

Up to EU to decide on Cyprus aid: Putin — 21 December 2012, 19:20 CET

Russian President Vladimir Putin said Friday it was up to European Union countries to decide on a bailout for Cyprus, despite its close economic links with Moscow.

Bailout candidate Cyprus rules out debt haircut — 21 December 2012, 16:11 CET

Bailout candidate Cyprus on Friday ruled out any "haircut" on its debt in order to help pave the way for much needed financial aid.

Eurogroup, ECB rule out debt haircut for Cyprus — 21 December 2012, 19:27 CET

The Eurogroup of eurozone finance ministers and the European Central Bank ruled out Friday a partial debt write-off for Cyprus.

Cyprus living hand to mouth until EU bailout comes — 19 December 2012, 10:54 CET

Cyprus has taken the extraordinary step of dipping into public authority pension funds to pay salaries for December but it still teeters precariously on the brink while waiting for EU bailout money.

Cyprus urges 2013 austerity as recession deepens — 06 December 2012, 18:49 CET

Cyprus must impose harsh austerity under the terms of an agreed EU bailout as it faces an unprecedented recession, Finance Minister Vassos Shiarly told parliament on Thursday.

Cyprus president blames banks for bailout — 04 December 2012, 22:48 CET

President Demetris Christofias on Tuesday blamed "criminal" action by Greek-exposed banks for Cyprus having to accept painful bailout terms for EU aid.

Cyprus banks need 'up to 10 billion euros in aid' — 30 November 2012, 15:17 CET

Cyprus' troubled banking system may need as much as 10 billion euros in EU bailout funds to recapitalise, a figure in line with expectations, the central bank chief said on Friday.

Cyprus No. 2 lender Popular posts EUR 1.7 bn losses — 28 November 2012, 21:31 CET

Cyprus Popular Bank, the island's number two lender, announced post-tax losses on Wednesday of more than 1.67 billion euros for the first nine months of 2012, sharply up on the same period of last year.

Cyprus awaits EU announcement on bailout deal — 23 November 2012, 19:07 CET

International lenders said on Friday good progress has been made on reaching a bailout deal for struggling eurozone member Cyprus, with the country's president saying "convergence" had been achieved.

'Good progress' made toward Cyprus bailout: lenders — 23 November 2012, 16:07 CET

International lenders said on Thursday that good progress has been made on reaching a bailout deal for struggling eurozone member Cyprus and that discussions are continuing.

Cyprus awaits EU announcement on bailout deal — 23 November 2012, 13:27 CET

Trade union leaders were briefed on Friday on terms the Cyprus government has agreed for a bailout by international lenders, as Nicosia awaits final confirmation from Brussels, officials said.

Cyprus says troika bailout terms difficult to accept — 14 November 2012, 18:03 CET

Cypriot President Demetris Christofias said on Wednesday the bailout terms put forward by the troika of international lenders were difficult to accept.

Troika launch Cyprus bailout talks — 10 November 2012, 01:30 CET

The troika of international lenders began talks with Cyprus on Friday to seek a draft agreement on a bailout deal for the financially beleaguered Mediterranean island.

Cyprus talks with troika lenders set for Friday — 08 November 2012, 16:45 CET

The troika of international lenders will begin talks with the Cyprus on Friday to seek a draft agreement on a bailout deal for the financially beleaguered Mediterranean island, the finance ministry said.

IMF confirms talks on possible loan to Cyprus — 07 November 2012, 18:52 CET

The International Monetary Fund confirmed Wednesday that a team is headed to Cyprus this week for talks on a possible bailout deal for the island's recession-hit economy.

Europe sees Cyprus staying in recession until 2015 — 07 November 2012, 15:54 CET

Bailout candidate Cyprus will sink deep into recession until 2015, the European Commission predicted in its autumn forecast issued on Wednesday.

Troika headed for Cyprus to broker bailout deal — 07 November 2012, 16:51 CET

The troika of international lenders is due to arrive in Cyprus on Thursday to complete a draft agreement on a bailout deal to rescue the island's recession-hit economy and Greece-exposed banks.

EU clears Cyprus bank guarantee scheme — 06 November 2012, 16:35 CET

The European Commission on Tuesday cleared a bank guarantee scheme in debt-stricken Cyprus as part of efforts to stabilise its financial sector up to the end of the year.

Russian mafiosi would benefit from Cyprus bailout: report — 05 November 2012, 19:56 CET

Wealthy Russians, including mafiosi, would most benefit from an EU bailout to Cyprus, the weekly magazine Der Spiegel reported Monday, quoting a German intelligence agency report.

Cyprus 'close' to troika bailout deal: minister — 28 October 2012, 21:03 CET

Cyprus is close to striking a deal over the terms of a bailout with a troika of lenders to save its Greece-exposed economy, Finance Minister Vassos Shiarly said in an interview published on Sunday.

Hollande against 'draconian' bailout for Cyprus — 26 October 2012, 13:52 CET

French President Francois Hollande on Friday urged a troika of international lenders not to impose "draconian" measures on Cyprus to rescue its Greece-exposed economy.