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.
Cyprus’ president held last minute talks with eurozone ministers in a last ditch attempt to agree a bailout deal, as cash withdrawals on the island are cut to 100 euros.
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?
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.
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.
The economic crisis in Cyprus is leading to a number of flights. Economics Editor Faisal Islam sees a parallel with the economic landscape of America in the 1930s.
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.
The Cypriot parliament votes against plans to tax people’s bank deposits to secure a bailout from the EU and IMF. Meanwhile, the RAF flies 1 million euros in to keep British forces there in cash.
Cypriot politicians extend a national bank holiday by two days as they prepare to vote on a controversial tax on people’s bank deposits – a move it is hoped will secure much needed bailout funds.
As Cyprus takes drastic measures to reduce its own debt burden, Jon talks to Cypriot opposition MP Pambos Papageorgiou fron Nicosia and from Berlin, by Otto Fricke, the budget spokesman of the FDP.
Chancellor George Osborne confirms the UK will compensate any British government and military personnel whose bank accounts in Cyprus may be affected by the European Union bailout levy.
Eurozone finance ministers agree on a bailout for Cyprus, marking the fifth international rescue package in three years of the debt crisis.
Former fugitive tycoon Asil Nadir has been sentenced to 10 years in jail for stealing almost £30m from his Polly Peck business empire.