The European Central Bank had another shock for [Cyprus's new president Nicos Anastasiades]: the island's second-largest bank, Laiki, was in such bad shape that it no longer qualified for the eurosystem's emergency
NICOSIA, Cyprus — The lights were dimmed and the doors were locked. But inside a branch of Laiki Bank, one of Cyprus's two dominant banks, a few silhouettes glided about Monday, filling cash machines to calm a wave of anxiety that has washed over this
It was a relatively mild drop, but Cyprus managed to put a damper on the U.S. stocks today. The Dow closed down 62 points or 0.4 percent. Cyprus is a tiny country, accounting for only 0.2 percent of economic output of the 17 countries that use the euro
I stuck my neck out in January, saying that Cyprus was certain to default.
After all, it's just a little island somewhere in the Mediterranean. But what's going on in Cyprus could actually matter — not just to the rest of Europe, but to the rest of the world. Here's the short version of what's happening:
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Cyprus parliament to veto deposit tax
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