Bailout vote decides Cyprus's eurozone fate
Cyprus's Parliament will vote on a bailout imposed by the EU, with approval likely from a thin majority against calls for the island to exit the euro.
Cyprus's Parliament will vote on a bailout imposed by the EU, with approval likely from a thin majority against calls for the island to exit the euro.
The IMF has warned that the repair job on the world's financial system is partly completed and failure to finish it risks a new phase for the crisis.
Eurozone and EU finance ministers will meet in Dublin to conclude a Cyprus bailout and consider extending debt repayments for Portugal and Ireland.
Cyprus's finance minister has resigned after concluding a €10-billion bailout deal with international lenders.
Banks have opened for normal business for the second day, but with strict restrictions still in place on how much money their clients can access.
Banks in Cyprus were set to return to normal trading hours after a relatively calm six-hour opening after being closed since March 16.
The Bank of Cyprus will become a shadow of its former self.
Cypriots have reacted to the news of their own salvation from economic meltdown with relief, but also trepidation and despair.
As Europe stumbles from crisis to crisis, it might be a good time for Cyprus to ditch the currency.
Cypriot businesses have been under increasing strain to keep running after financial authorities stretched the country's bank closure into week two.
Markets will remain focused on Cyprus after it reportedly reached an agreement with outside funders over a collapse of its banking system.
Cyprus conceded on Saturday to a one-off levy on deposits over 100 000 euros in a dramatic U-turn as it raced to satisfy European partners.
European Union leaders have announced the indefinite postponement of a key summit with Japan intended to launch crucial free trade negotiations.
Cyprus's Finance Minister Michalis Sarris has left Moscow empty-handed after a two-day push to secure the island a financial lifeline failed.
Spaniards will worry that a bailout will come with a current account surcharge attached.
Angelique Chrisafis & Miriam Elder
A eurozone bailout seems unlikely, and plans to keep Cypriots banks afloat are getting desperate.
The European Union said it will assist if Cyprus contributes about €7-billion in revenue.
Cyprus has been fine-tuning a Plan B to secure a bailout that the European Central Bank has warned should be adopted to avoid a banking meltdown.
The Cyprus savings levy has led to an objection from the Democratic Alliance about a clause in the Banks Amendment Bill.
Karolina Tagaris, Michele Kambas
Cyprus' ministers have met to rework a plan to seize money from bank deposits before a parliamentary vote that might threaten the island's finances.