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An apt symbol, as Slovenia comes under growing pressure to seek a bailout to fill a financial hole, just as Cyprus did last month. The countries are different in many ways, but they have at least two things in common: like Cyprus, Slovenia needs to recapitalise its biggest banks, and it does not have the money to do so.
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An apt symbol, as Slovenia comes under growing pressure to seek a bailout to fill a financial hole, just as Cyprus did last month. The countries are different in many ways, but they have at least two things in common: like Cyprus, Slovenia needs to recapitalise its biggest banks, and it does not have the money to do so.
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Two senior executives at Bank of Cyprus may have deleted crucial e-mail documents last year, according to an investigative report commissioned by the central bank of Cyprus, the NYT reports.
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NICOSIA, April 4- Public shock in Cyprus about the tough terms of an international bailout is turning into anger as millions of euros remain locked in the country's banks.
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European Central Bank President Mario Draghi said the central bank would keep monetary policy accommodative "for as long as needed".
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FRANKFURT, April 4- The European Central Bank put the blame for initial market turmoil over Cyprus's bailout squarely on the island's government on Thursday and pledged that taxing depositors would not become normal procedure.
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Peter Dixon, senior economist at Commerzbank Securities, questions whether Cyprus is still a part of the European monetary union despite keeping the euro.
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If it fails, international lenders may have to do what they wanted to avoid and which Germany and its northern European allies may baulk at- give Cyprus more money. Nicosia will get 10 billion euros over three years from the euro zone and the International Monetary Fund.
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*Healthcare stocks rally, Humana is S&P's top percentage gainer. NEW YORK, April 2- U.S. stocks rose on Tuesday, moving the S&P 500 closer to its all-time intraday high, as increased payment rates for some health insurers boosted the sector and Cyprus concluded bailout talks.
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NICOSIA, April 2- Cyprus's finance minister resigned on Tuesday after concluding a 10 billion euro bailout deal with international lenders in which the country slashed its dominant banking sector and hit depositors with losses.
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*Cyprus eases some controls, most remain in place. *Cyprus concludes bailout talks with troika, aid to flow in May. Sarris, who was dispatched to Moscow last month but returned empty-handed as Cyprus sought Russian aid after rejecting a European bank levy proposal, said his main goal of agreeing a deal with lenders had been accomplished.
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Capital controls have restored a sense of calm in Cyprus. At best, this is a short reprieve if they are not followed by more fundamental decisions, according to Pimco's CEO.
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*Euro slides 0.1 pct as Cyprus worries linger. London, April 2- European shares extended gains on Tuesday when new data showed the region's factory activity no worse than originally estimated in March, while the euro slipped as investors worried about the impact of the Cyprus bailout.
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LONDON, April 2- Euro zone bond markets began the week in cautious mood with peripheral bond yields holding at elevated levels as the impact of Cyprus's landmark bailout and Italy's political stalemate unnerved investors.
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Switzerland, Luxembourg, Malta and the Caymans are reminding those shaken by events in Cyprus that they remain open for business.
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Cyprus may be a "special case" in the eyes of European officials, but their handling of its bailout is taking a toll on another small euro zone member with an over-burdened banking sector- Slovenia.
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PARIS-- France has revised up the level of its deficit for the past two years, citing the deteriorating economy and a bank bailout. Finance Minister Pierre Moscovici said Friday that France missed its target because it gave struggling bank Dexia more money at the end of the year and growth was worse than expected.
