Cyprus

1:25pm

Tue April 30, 2013
The Two-Way

Cyprus Passes Tough Financial Bailout Package

A Cypriot left-wing supporter sits in the shade during a protest outside the Parliament in Nicosia on Tuesday.
Patrick Baz AFP/Getty Images

Lawmakers in Cyprus approved a controversial $13 billion bailout from international lenders that's aimed at keeping the country from a messy default and withdrawal from the eurozone.

The agreement, which totals $30 billion when Cyprus' own contributions are included, passed 29-27 in the 56-seat Parliament.

The ruling center-right Democratic Rally party and its ally, the Democratic party, voted for the measure.

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2:11pm

Thu April 11, 2013
The Two-Way

Price Tag On Cyprus Bailout Goes Up

Originally published on Thu April 11, 2013 4:08 pm

It's going to cost more to bail out Cyprus than originally projected, with officials now saying the cost will be $30 billion instead of the original estimate of $23 billion.

"It's a fact the memorandum of November talked about 17.5 billion [euros] in financing needs. And it has emerged this figure has become 23 billion [euros]," government spokesman Christos Stylianides was quoted by the BBC as saying on Thursday.

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4:29am

Fri April 5, 2013
Business

The Ups And Downs Of Cyber Currency Bitcoin

Originally published on Fri April 5, 2013 5:30 am

Transcript

DAVID GREENE, HOST:

Bitcoin is a virtual currency that's traded largely online. It was created in 2009 in the aftermath of the global financial crisis as an alternative to currencies which are controlled by countries and central bankers. But Bitcoin has been on a wild ride lately, soaring in value during the anxious days of the Cyprus banking crisis.

We're going to look at the currency's history in today's Business Bottom Line. Here's NPR's Steve Henn.

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2:43am

Fri March 29, 2013
Economy

Cyprus' Crisis Frames Eurozone As 'Work In Progress'

Originally published on Fri March 29, 2013 9:14 am

Banks in Cyprus reopened to customers for the first time in nearly two weeks Thursday, albeit with strict restrictions.
Petros Giannakouris AP

On the second day since Cyprus reopened its banks, depositors continue to face restrictions on getting at their money. ATM withdrawals are limited to 300 euros a day, and there are limits on how much cash travelers can take abroad.

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5:04am

Thu March 28, 2013
The Two-Way

Banks In Cyprus Reopen As Island's Economy Hits Reboot

Originally published on Thu March 28, 2013 6:54 am

At a Laiki Bank branch in Nicosia, Cyprus, early Thursday, customers lined up to be among the first allowed in.
Yannis Behrakis Reuters /Landov
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Banks in Cyprus reopened Thursday morning — after two weeks in which they had to keep their doors closed as European leaders worked out a bailout deal for the island's struggling financial sector in a bid to keep its problems from triggering similar crises in other ailing EU nations.

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