Mario Draghi, president of the ECB, explains why Cyprus is not a template for the rest of the euro zone and says he's "sure" Jeroen Dijsselbloem was misunderstood.
The outside chance that seemingly endless monetary stimulus could be on the road to withdrawal may upset bond investors, yet traders expect Cyprus' woes to limit the potential downside.
Contradictory reports have emerged about whether Russia's Gazprom has offered a deal in which the energy giant will restructure the the Republic of Cyprus' banks in exchange for natural gas exploration rights.
The VIX surged about 20 percent Monday on the open of U.S. markets. Clearly, the news of Cyprus's proposed bank deposit tax is leading to expectations that volatility will return to the market.
Why is a problem in one little corner of the world rippling toward our shores? Are we truly so intertwined with everyone? Even Cyprus? Is this truly a case of The Princess and the Pea?
U.S. stock market futures were heavily pressured across the board Monday as global markets reeled from a euro zone decision to force bank depositors in Cyprus to contribute towards a bailout.
The Cyprus news of a savers' haircut is surprising even given the ongoing European debt crisis, Jim O'Neill, chairman of Goldman Sachs Asset Management, told CNBC.
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".