Why Greek Cypriots need to get serious about peace | Jonathan Steele

With recession and the discovery of gas reserves off the Cyprus coast, deadlock with the north is becoming far less convenientThe presidents of the two entities on the divided island of Cyprus sat down with their wives last week for an unusual dinner. Held in the buffer zone that separates the Turkish-run statelet from the […]
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British widow: ‘I face ruin from Cyprus crisis’

Sharon Connor stands to lose upwards of €50,000 after her profits from a house sale remain frozen in a bank on the islandTragedy first struck Sharon Connor when her husband, Gary, was killed by a heart attack in January last year. He had just turned 54. From running a successful scuba-diving business on Cyprus, the […]
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Cyprus forced to find extra €6bn for bailout, leaked analysis shows

Less than a month after deal was agreed bailout bill has risen to €23bn – larger than entire year’s output from country’s economyCypriot politicians have reacted with fury to news that the crisis-hit country will be forced to find an extra €6bn (£5bn) to contribute to its own bailout, much of which is expected to […]
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British widow’s house-sale money locked up in Cyprus

Sharon Connor sold her Cyprus house to move back to the UK. The next day the money was frozen – now she fears she has lost much of her cash, and her new home purchaseSharon Connor lost her husband suddenly when he was struck down by a heart attack, aged just 54, last year. Now, […]
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Laiki’s UK customers to escape Cypriot savings levy

Depositors have been transferred to Bank of Cyprus’s UK arm and will be protected from levy and limits on withdrawalsAround 15,000 account holders at Laiki bank in the UK are to escape any levy imposed on savings by the Cypriot authorities.After a week of talks since George Osborne told MPs that the government was trying […]
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Eurozone crisis demands one banking policy, one fiscal policy – and one voice

Europe could have dealt with Cyprus cheaply and painlessly with a pan-European body able to recapitalise the country’s banksIt had all started to look quite promising. The US was picking up, China had avoided a hard landing and in Japan the early signs from the new government’s anti-deflation approach were encouraging. Even in Britain, the […]
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Bank of Cyprus depositors could lose up to 60% of their savings

Cypriot finance officials say initial losses will be 37.5%, but up to 22.5% more could be taken if bank needs further capitalisationSavers with the Bank of Cyprus could lose up to 60% of their savings according to officials from the central bank and the finance ministry.The officials said on Saturday that deposits over €100,000 (£84,000) […]
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