Cyprus facing recession risk

Restoring foreign investor confidence in the Cypriot economy, following the Eurogroup decision for a €10 billion financial assistance should be top priority, Nobel Laureate and head of the National Economy Council has said. The 10-member Council, ...

Haris Georgiades, Cyprus finance minister, comments on Cypriot reforms, discussions with Russia, capital controls and why he expects the first installment of the

The EU's economic affairs commissioner Olli Rehn is calling for the reunification of Cyprus as a way out for the Greek Cypriot economy, which experts predict will contract by 13 percent over the next two years. It is worth recalling that the ...

The grab on bank deposits that accompanied Cyprus's bailout could be repeated elsewhere in the euro zone, and the bloc's banking union may not be strong enough when it is introduced, Standard and Poor's said on Wednesday. "We believe that the events ...

to discuss the Fund`s contribution to a €10 billion bailout for Cyprus, IMF Spokesman Gerry Rice said Thursday. The IMF contribution to the €10 billion Cypriot bailout is estimated at €1 billion, with the remaining €9 billion provided by the ...

The Greek (-5.3%), Cypriot (-4.1%) and Portuguese (-3.9%) economies are shrinking the fastest compared to last year, new European Commission figures show. Italy (-2.1%), Spain (-2%), Finland (-2%) and the Czech republic (-1.9%) are also suffering.

Cyprus was braced for the reopening of its banks after nearly two weeks on Thursday, after the government imposed tough capital controls for at least the next seven days.Banks will open...

As Cypriot politicians raced to find a new financial rescue plan ahead of a Monday deadline, tensions built in the streets of the capital. Residents withdrew what money they could from ATMs amid

Cyprus secured a three-year bailout from the euro zone's ESM bailout fund and the International Monetary Fund (IMF) last month.