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It might be possible for large uninsured depositors to be "bailed-in" as part of the future resolution of a bank under a new draft EU law, the European Commission said on Tuesday, but savers with less than 100,000 euros at a bank would not be hit

Now that it looks like Cyprus won't be leaving the eurozone, investors should not forget that the continent has bigger problems. Sure, Cyprus yielded about a week of scary headlines, but the Cyprus obsession served as a distraction from the real

For Iceland, there was a sense of deja vu when Cyprus's finance minister said capital controls would probably last "a matter of weeks". Five years after a banking meltdown, the north Atlantic island has just extended its own controls indefinitely

Let me preface this by first saying that by no means would I consider myself a Euro apologist. I think the Euro crisis has been poorly handled from the start, and that the latest period of calm is nothing short of a farce, only thanks to the European

The Cyprus bailout deal, and the power wielded by Germany and the IMF in its orchestration, has scared small EU economies with big banking sectors, fearing they could be next. Germany and the EU’s heavy hand in the Cyprus bailout negotiations have

German unemployment unexpectedly rose in March as renewed tensions in financial markets increased concerns the euro region’s recovery will falter. The number of people out of work increased a seasonally adjusted 13,000 to 2.94 million, the

The economy expanded at a sluggish pace in the fourth quarter although a big gain in business investment and higher exports of services led the government to push up its previous estimate for growth. Gross domestic product expanded at a 0.4 percent

Now that gold isn't doing so hot, it sounds as though Rick Santelli thinks the whole game is rigged. Santelli, who traded gold since 1979, says those investing in gold ETFs are going to end up with checks from ETFs rather than physical gold. His

In the world of markets, there's virtually nothing notable to say about anything. It was a very quiet night in Asia. And now all equities and futures are closed for Good Friday. Currency trading is going on still, but there's nothing really

Gold traded little changed, set for the worst quarterly run since 2001, as the reopening of banks in Cyprus eased immediate concern Europe’s debt crisis will deepen, reducing the precious metal’s appeal as a store of wealth. Gold for immediate

1 Capital controls are back Throughout the 1960s, with Harold Wilson's Britain dogged by sterling crises and balance of payments woes, holidaymakers were banned from taking more than £50 with them when heading abroad. The "foreign travel allowance"

European Central Bank Governing Council member Klaas Knot said on Friday there was "little wrong" with Eurogroup chair Jeroen Dijsselbloem's recipe for dealing with future euro zone banking crises, a newspaper reported. Dijsselbloem, the head of the

Big depositors in Cyprus's largest bank stand to lose far more than initially feared under a European Union rescue package to save the island from bankruptcy, a source with direct knowledge of the terms said on Friday. Under conditions expected to be

And we have our first analyst comment on the news that North Korea says it's in a state of "war" now with South Korea. It comes from SocGen's Sebastien Galy, who sends his ultra-quick missive: Technically the two countries have been at war just

From a Cypriot perspective, this week will likely been seen as an incredibly damaging one. Had Cyprus passed some kind of deposit levy early in the week, it might still have a future as a banking/tax haven, albeit one that was weakened. However, now

Cypriot President Nicos Anastasiades was expected in Brussels on Sunday to seek an 11th-hour reprieve from financial meltdown, with a bailout from the European Union and the island's place in Europe's single currency bloc hanging in the balance

The clock is ticking on Cyprus. The European Union wants the beleaguered country to find nearly €6 billion to add to a €10 billion bailout program backed by the International Monetary Fund to save the country's insolvent banks. And Cyprus is

Next 6-7 hours market will await news from Brussels. EURO is gaping down at early open. EUR/USD – 1.2949 EUR/JPY – 122.34 EUR/GBP – 0.8503

Cypriot President Nicos Anastasiades warned Sunday he may be forced to quit as he battled Brussels bailout bosses, with the clock ticking on a deadline to avert bankruptcy and a potential exit from the euro. The development was reported by the Cyprus

The Eurogroup has approved a deal on a 10 billion-euro bailout for Cyprus, struck early Monday in Brussels. Cyprus avoids exiting the eurozone, but will have its second largest bank closed with heavy losses expected for big depositors. “The size of