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  • CNBC's Kelly Evans reports euro zone concerns have resurfaced on news of a proposal that would tax depositors.

  • Standard and Poor's sees a high risk that Spain, Italy, Portugal and France will not be able to carry through necessary reforms as the unemployed become less willing to put up with austerity, S&P's Germany head Torsten Hinrichs told a newspaper.

  • Cyprus Bailout Risks Euro Weakness Ahead  Monday, 18 Mar 2013 | 6:10 AM ET

    The euro zone's proposal that bank depositors in Cyprus contribute toward a bailout has dampened risk appetite for many investors. CNBC's Julia Chatterly, Carolin Roth, and Michelle Caruso-Cabrera report all the detail on how this newest development will impact global investors.

  • Cyprus Economy Could Contract by 15%: Nomura Monday, 18 Mar 2013 | 6:02 AM ET
    Kakopetria in Solea Valley, Trodos, Cyprus

    The decision to force bank depositors in Cyprus to contribute towards a euro zone bailout could mean the country's economy could shrink by 15 percent over the next two years, investment bank Nomura said.

  • Carlo Bozotti, chief executive officer of STMicroelectronics

    STMicroelectronics and Ericsson will close their loss-making mobile chip joint venture ST-Ericsson by dividing parts of the business between them and shutting the rest with the loss of about 1,600 jobs.

  • 'Unfair, Dangerous' Cyprus Deal Whacks Rich Russians Monday, 18 Mar 2013 | 4:17 AM ET
    A car drives past a billboard promoting a Russian bank on a main road in the southern Cypriot port of Limassol.

    As the Cypriot parliament decides on a deposit levy, the shadow of Russian money in the island looms large.

  • European Markets Open Sharply down  Monday, 18 Mar 2013 | 4:00 AM ET

    European Markets Open Sharply down.

  • No Panic in Markets Yet: Broker  Monday, 18 Mar 2013 | 2:30 AM ET

    Chris Weston, institutional dealer at IG Markets, says there have been a lot of sell orders but he hasn't seen a panic yet on Cyprus's deposit levy.

  • Cyprus Levy a Farce  Monday, 18 Mar 2013 | 1:50 AM ET

    Clem Chambers, CEO at ADVFN says the levy on Cyprus banks is unprecedented and signals your money isn't safe. He also says that EU, ECB and IMF have torn up the rule book and they can do it again.

  • Downside Risk for the Euro  Monday, 18 Mar 2013 | 1:22 AM ET

    Adarsh Sinha, Head of Asia Pacific G10 FX Strategy at BofA Merrill Lynch Global Research says the Cyprus bailout offer of levying bank deposits came as a surprise and he's bearish on the euro-dollar.

  • Cyprus a Special Case in Many Ways  Monday, 18 Mar 2013 | 1:05 AM ET

    Mikio Kumada, Executive Director & Global Strategist at LGT Capital Partners says the Cypriot banks are funded by a huge deposit base and the levies are a one off event.

  • Cyprus Finance Minister: Levy Was Best Option  Sunday, 17 Mar 2013 | 10:03 PM ET

    Cyprus' finance minister, Michael Sarris, tells CNBC why he defends the controversial tax on bank deposits.

  • Take Advantage of GBP Weakness: Analyst  Sunday, 17 Mar 2013 | 8:48 PM ET

    Kelvin Tay, Regional CIO at UBS Wealth Management, gives advice following the controversial bank bailout news from Cyprus.

  • Enhanced US Ties Could Help Cyprus Banks  Sunday, 17 Mar 2013 | 8:33 PM ET

    Susan Schwab, currently a member of the Governing Board at the LKY School of Public Policy, gives her initial reaction to the news from Cyprus from the perspective of a former U.S. trade negotiator.

  • Can Cyprus' Crisis Be Contained?  Sunday, 17 Mar 2013 | 8:20 PM ET

    Gregorio Saichin, Head of Emerging Markets & High Yield Fixed Income Funds at Pioneer Investments, explains how the situation in Cyprus will play out in the sovereign bond markets in the long-term.

  • Will More EU Nations Follow Cyprus' Path?  Sunday, 17 Mar 2013 | 6:30 PM ET

    Richard Jerram, Chief Economist at Bank of Singapore discusses the threat of other debt-riddled nations following Cyprus' unusual bailout proposal.

  • New Deal for Cyprus? Authorities in Talks Sunday, 17 Mar 2013 | 4:49 PM ET
    The administrative headquarters of the Bank of Cyprus in Nicosia.

    Cyprus' president was in talks to ease the terms of a bailout as he tried to scrape together support for the deal, the FT reports.

  • Cyprus Finance Minister: We Hope People Believe Us Sunday, 17 Mar 2013 | 11:51 AM ET
    People withdraw money from an ATM in the Cypriot capital Nicosia. The Cyprus government postponed a planned emergency session of parliament on Sunday to debate a controversial EU bailout.

    Cyprus Finance Minister Michael Sarris told CNBC that there will be no capital restrictions and that people will be able to move their money out of the country on Tuesday after banks re-open. But he acknowledged people may doubt this.

  • Will Cyprus Vote for Savings Levy? Sunday, 17 Mar 2013 | 3:18 AM ET
    Cypriot President Nicos Anastasiades

    Cyprus's parliament will vote Sunday on whether savers must pay a levy on bank deposits under terms for an international bailout. Approval is far from certain.

  • Cyprus Rescue Not a Fit for Other Countries Saturday, 16 Mar 2013 | 3:41 PM ET

    Europe's rescue of Cyprus, partly funded by bank deposits, is not applicable to other euro zone countries, according to an economy ministry source in Spain.

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