Cyprus: ten huge consequences of the bailout of a small country
As Cyprus prises itself from the jaws of bankruptcy, the island’s savers face a big bill to dig the island out of its financial mess, reports Faisal Islam.
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Thousands of schoolchildren take to the streets of Nicosia to demonstrate against the terms of an international bailout for Cyprus. Faisal Islam reports from Cyprus.
Cyprus secures a last-minute, 10bn euro bailout in a deal which will see its second largest bank closed and those with the largest deposits facing a levy to raise funds.
The Cypriot President and party leaders are expected to travel to Brussels for talks with EU finance ministers as the island’s bid to avert financial collapse goes down to the wire.
As the banking crisis in Cyprus continues, what comes next? And what has happened to other EU countries that have been bailed out?
As the bank closure is extended until next week, Cypriot business leaders warn of a question of survival as the government struggles to find a way out of its financial crisis.
As Cyprus prises itself from the jaws of bankruptcy, the island’s savers face a big bill to dig the island out of its financial mess, reports Faisal Islam.
Eurozone finance ministers agree on a bailout for Cyprus, marking the fifth international rescue package in three years of the debt crisis.
A funny thing is happening in the Mediterranean. Cyprus has been poised to become the fourth Eurozone sovereign to agree a bailout, the fifth if you include Spain’s banking bailout.
The Spanish government unveils plans to radically reduce departmental budgets while protecting pensions to pave the way for another bailout from the EU.
Germany’s leading court rejects calls to block the establishment of a permanent fund to support indebted countries.
If Spain accepts the humiliation of some outside oversight, ECB President Mario Draghi may have come up with an offer that allows the Eurozone to stagger through the all-important German elections next year.
Private depositors flee Spanish banks and Catalonia seeks a 5bn euro rescue, heightening fears of a full country bailout.
The future of the euro is under the spotlight again, as EU officials visiting Greece cast doubt on its ability to repay its debts and Spain sees its borrowing costs soar.
With a 100bn euro rescue of Spain’s banks agreed, Channel 4 News looks at the deal Madrid has struck with its European partners and the implications for Greece and Ireland.
Spain will ask for an estimated 40-100bn euros from Europe to keep its banks operating – but it may not know the extent of the crisis until mid June when two audits are completed.