STRASBOURG, France, May 20- A draft law that a group of European Union lawmakers voted for on Monday would shield small depositors from losing their savings in future bank rescues, but customers with more than 100,000 euros in savings when a bank failed could suffer losses.» Read More
BRUSSELS, March 25- Cyprus clinched a last-ditch deal with international lenders on Monday for a 10 billion euro bailout that will shut down its second largest bank and inflict heavy losses on uninsured depositors.
*Cyprus reaches deal for 10 bln euro bailout. TOKYO, March 25- Japan's Nikkei share average rebounded on Monday after a sharp fall at the end of last week, as Cyprus and the European Union agreed to a plan to resolve the island's financial crisis.
BRUSSELS, March 25- Cyprus, the European Union and the International Monetary Fund have agreed a new plan to try to resolve the island's shattered banks and finance a rescue of the country, EU officials said early on Monday. Deposits below 100,000 euros in Laiki will be transferred to Bank of Cyprus, the country's largest bank.
*MSCI Asia ex- Japan rises 0.5 pct, Nikkei opens up 1.4 pct. TOKYO, March 25- The euro and Asian shares rose on Monday after EU sources said Cyprus's president and the European Union have agreed the outlines of a rescue deal to avert financial meltdown on the Mediterranean island.
TOKYO, March 25- Japan's Nikkei average rebounded in early trade on Monday after a sharp fall at the end of last week, as Cyprus and the European Union agreed to a plan to resolve the island's financial crisis.
*Cyprus a "casino economy", says French minister. With Cyprus facing a Monday deadline to avert a collapse of its banking system, Anastasiades met the heads of the European Union, the European Central Bank and the International Monetary Fund to try to craft a deal on a 10 billion euro bailout after a first attempt collapsed last week.
Developing nations must be ready for a financial market selloff if the Cypriot banking sector collapses, World Bank Managing Director Sri Mulyani Indrawati said on Sunday, urging a swift resolution to the crisis in Cyprus.
MILAN, March 24- The International Monetary Fund is planning to cut its U.S. growth forecast for this year due to higher taxes and spending cuts, Italian news agency ANSA said, citing a draft of the IMF's next World Economic Outlook report.
BEIJING, March 24- Developing nations must be ready for a financial market selloff if the Cypriot banking sector collapses, World Bank Managing Director Sri Mulyani Indrawati said on Sunday, urging a swift resolution to the crisis in Cyprus. Europe's financial markets have also traded in relative calm since the Cyprus crisis flared up.
NICOSIA, March 23- Cyprus has agreed with EU/IMF lenders a 20- percent levy on deposits over 100,000 euros at leading lender Bank of Cyprus and a 4- percent levy on deposits of the same amount at other lenders, a senior Cypriot official said on Saturday.
*Cyprus eyes levy on bank deposits over 100,000 euros. NICOSIA, March 23- Cyprus is expected to make a dramatic U-turn on Saturday to avert the imminent threat of financial meltdown, having signalled it is willing to tax big savers in its stricken banks to clinch a bailout from the European Union.
WASHINGTON, March 22- The International Monetary Fund on Friday approved a $1.25 billion disbursement to Ireland under an existing loan program to aid the European island nation.
NICOSIA, March 22- A solution to Cyprus's bailout crisis within the framework set down by the European Union may be possible within "the next few hours", the deputy leader of the island's ruling Democratic Rally party said on Friday.
NICOSIA/ MOSCOW, March 22- Cyprus's finance minister left Moscow empty-handed on Friday after Russia turned down appeals for aid, leaving the island to strike a bailout deal with the European Union before Tuesday or face the collapse of its financial system.
*Action comes as European Union debates restrictions. *EPA says working aggressively to protect bees. "It is a catastrophe in progress," said migratory bee keeper Steve Ellis who maintains 2,000 bee hives for pollinating crops from Minnesota to California. "
BRUSSELS, March 21- There was no official red flag that Cyprus's oversized banking sector posed a big risk to its economy until last year, when the European Union set up tools to monitor such imbalances, a Reuters review of EU reports dating back to 2003 showed.
*Eurogroup chairman says Russia won't lend Cyprus more. NICOSIA/ FRANKFURT, March 21- The European Union gave Cyprus till Monday to raise the billions of euros it needs to clinch an international bailout or face the collapse of its financial system and likely exit from the euro currency zone.
*Finance minister extends stay in Moscow, seeking aid. *Russia says EU behaving like "bull in a china shop". NICOSIA, March 21- Cyprus considered nationalising pension funds and ordered banks to stay shut till next week to avert financial chaos after it rejected the terms of a European Union bailout and turned to Russia for aid.
BRUSSELS, March 20- European Union lawmakers agreed to bar bankers in Europe from getting bonuses bigger than their salaries, EU officials said on Wednesday. "A deal is done," said one official who attended the negotiations.
WASHINGTON, March 20- The White House on Wednesday formally notified Congress of its plans to begin free trade talks with the 27- nation European Union, an effort to build on the world's largest trade and investment relationship to spur new economic growth.