Pipelines, and deposit lines: a view from north Cyprus
In Turkish controlled northern Cyprus there is a sense of schadenfreude over the financial woes of its southern neighbour, but also that unifying the island is “back on the agenda”.
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Regulators say Britain’s banks must take action to ensure they can cope with the extra costs they face because of bad debts, mis-selling and the eurozone crisis.
With sweeping controls imposed in Cyprus as banks re-open, a former boss of Laiki bank tells Channel 4 News about the fateful meeting where terms for the country’s bailout were discussed.
In Turkish controlled northern Cyprus there is a sense of schadenfreude over the financial woes of its southern neighbour, but also that unifying the island is “back on the agenda”.
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.
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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.
Cyprus is confronting a grim choice – either levy 5.8bn euros from people’s bank accounts or let its banks collapse and face exit from the eurozone.
As the banking crisis in Cyprus continues, what comes next? And what has happened to other EU countries that have been bailed out?
Amid cashpoint queues and rumours of bank closures, politicians scramble to reach a deal on how to raise 5.8bn euros before the Monday deadline imposed by the European Central Bank.
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After sneaking out news of multi-million pound payouts to top staff on budget day, can we believe Barclays has turned over a new leaf? Channel 4 News Business Correspondent Siobhan Kennedy thinks not.
As Justin Welby is enthroned as the new archbishop of Canterbury, he talks to Jon Snow about protecting the poor, a “cultural change” in banking, and why he has influence but not authority.
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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.