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Cyprus probably won't be the last euro zone country to ask for an international bailout, according to a Reuters poll of economists.
For Iceland, there was a sense of deja vu when Cyprus's finance minister said capital controls would probably last "a matter of weeks". Five years after a banking meltdown, the north Atlantic island has just extended its own controls indefinitely.
Investor concern over Cyprus is rapidly being replaced by fears for Italy, as political deadlock continues.
Luxembourg, home to several European Union institutions, has rebuffed calls from some of its partners to reduce the size of its powerful banking sector in response to the crisis in Cyprus.
U.K. banks will be need to raise an extra 25 billion pounds ($38 billion), the Bank of England's Financial Policy Committee (FPC) said on Wednesday, detailing the capital shortfall facing the country's financial institutions.
CNBC's Kelly Evans reports on all the market moving events from Europe, including Cyprus.
Prudential, Britain's largest insurer, has been fined 30 million pounds ($45.5 million) for failing to tell the UK financial regulator about its ill-fated takeover attempt of Asian rival AIA.
The euro zone's awkward handling of Cyprus's bailout puts extra pressure on the bloc's sovereign ratings and shows policymakers overestimate their ability to contain the crisis, credit agency Moody's said.
Bill Blain, senior fixed income broker at Mint Partners, explains that while Cyprus is now "a done deal", one of the remaining big issues will be finding out how much money managed to escape the island despite banks being closed.
Nino Tronchetti Provera, CEO of Ambienta SGR, tells CNBC that Europe is leading the way in energy efficiency and these technologies are being exported to the emerging markets.
Lucy MacDonald, CIO of Allianz Global Investors, tells CNBC that there could be a big structural shift out of bonds, but there is no evidence it is happening yet.
With thousands of jobs axed and many more under threat in London's financial center, City workers are leading an exodus from the City as they consider alternative careers and dramatic life changes.
Neil Atkinson, director of energy research at Datamonitor, tells CNBC that despite the Cyprus crisis energy demand out of Europe remains weak in contrast to elsewhere.
A new Italian government is still a long way off and the country may be headed for fresh elections, a senior official of Silvio Berlusconi's center-right party said.
Paul Donovan, global economist at UBS, tells CNBC that two years of negative growth in a row in the euro zone takes 'monumental policy incompetence to achieve'.
Ulrich Leuchtmann, Head of FX Research at Commerzbank talks about how the Cyprus situation is affecting FX markets. CNBC's Carolin Roth also joins in the discussion calling in from Nicosia.
Andrew Freris, Chief Investment Advisor for Asia at BNP Paribas Wealth Management says capital controls in Cyprus sets a strange precedent within they Euro.
Jim Rickards, Senior Managing Director at Tangent Capital discusses his expectations for the situation in Cyprus. He further explains why he expects U.S. stocks to do well for the rest of the year.
Alastair Newton, Senior Political Analyst at Nomura, says the Cyprus situation has distracted markets from the continuing political uncertainty in Italy, which has far bigger implications for the bloc.
David Mann, Head of Regional Research for Asia at Standard Chartered, says the Cyprus deal has broken a lot of taboos and sets a dangerous precedent for future bank rescues.
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Bob Iaccino, chief market strategist at Tethys Partners, says that U.S. groups' guidance has been on the negative side and discusses what will drive the market this week.
Carter Worth, chief market technician at Sterne Agee, says that despite what the U.S. market cap may suggest, small and mid-size groups are "starting to falter".
Kian Abouhossein, banking analyst at JP Morgan, discusses the decline in fixed income revenues for big banks and discusses how they are adjusting their models.