Is the midst of a financial meltdown, Greece seeks cash and a pipeline deal from the Russians. But any agreement will need EU approval.» Read More
CNBC's Steve Sedgwick reports the Cypriot finance minister is in Moscow to work out a possible rescue plan to safeguard high levels of Russian deposits in Cypriot banks. And, CNBC's Michelle Caruso-Cabrera has the latest details from Cyprus, where the country's leaders are holding crisis talks in an attempt to avert a financial meltdown.
Michael Sarris, Cyprus finance minister, tells CNBC how his first meeting with his Russian counterpart was "very constructive".
Liam Halligan, chief economist at Prosperity Capital Management and Steve Sedgwick, reporter at CNBC, discuss Russian investment in Cyprus and why Russia is bound to play a bigger role in the Euro Zone's recovery.
Costas Lapavitsas, professor of economics at SOAS, tells CNBC that the crisis in Cyprus was created by the Troika policies and the Greek crisis, not the Cypriots.
Ivan Tchakarov, chief economist at Renaissance Capital, tells CNBC that the Cyprus crisis presents an opportunity for Vladimir Putin to take the moral high ground and become the 'savior of Europe'.
Russia could avenge the loss of billions of dollars in Cyprus by cutting Germany's energy supply, one analyst said.
Sources say the Cyprus Finance Minister has submitted his resignation. Discussing the crisis in Cyprus and the backlash from Russia, with Peter Kiernan, author of "Becoming China's Bitch."
Efi Xzanthou, a member of Cyprus's Green Party and Parliamentary Finance Committee, tells CNBC that as soon as they open there will be a run on the banks as no depositor will feel safe.
The Cypriot parliament will today vote on the highly controversial levy on bank deposits, CNBC has been speaking to a number of market experts who all warn that the tax sets a dangerous precedent.
Steve Keen, professor of economics at the University of Western Sydney, argues that if you destroy the trust depositors have in their bank accounts then you destroy the oil of capitalism.
Ashraf Laidi, chief global strategist at City Index, tells CNBC that investors, who want to play the Euro without the periphery, should play the Swiss Franc.
Almost 40 percent of deposits in Cypriot banks belong to foreigners, with CNBC's Robert Frank; and Ken Rijock, financial crime consultant; Mark Hannah, Former Kerry & Obama Campaign Aide; and Chip Saltsman, Former Huckabee Campaign Manager, discuss.
Mujtaba Rahman, Senior European Analyst at Eurasia, talks about the root of the Cyprus' crisis and its potential impact on its ties with Moscow.
Liza Ermolenko, emerging markets economist at Capital Markets, tells CNBC why Cyprus' travails are unlikely to have too much of an effect on the Russian economy, although it might startle Russian investors out of the country.
Proposals to force depositors in Cyprus to contribute towards a euro zone bailout has shaken the very nature of banking to its roots, according to Dennis Gartman, editor of "The Gartman Letter", who has labeled Cyprus's recently elected President Nicos Anastasiades a "fool".
U.S. Defense Secretary Chuck Hagel announced plans on Friday to bolster U.S. missile defenses in response to "irresponsible and reckless provocations" by North Korea, which threatened a preemptive nuclear strike against the United States last week.
Oleg Deripaska, the CEO of the world's largest aluminum company Rusal said global commodity producers need to cut output by up to 10 percent.
Oleg Deripaska, CEO of Rusal, says Russia needs less government presence in the economy, and should continue privatization and the reform of the power market and the financial sector.
Oleg Deripaska, CEO of Rusal, says European governments should support banks and businesses and help them restructure, while Russia's government should invest in infrastructure.
Charles Robertson, global chief economist, Renaissance Capital, discusses the appointment of a new Head at the Russian Central Bank and whether chasing high single-digit growth is the right strategy for Russia.