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.
Union cries foul as investment bankers profitand taxpayers wait to get £45-billion back.
The bailed-out British Lloyds Banking Group has revealed it had plunged to a £3.5-billion loss last year and would pay out £375-million in bonuses.
Britain is unique in that it does not tax its super-rich on all their earningsand the wealthy have been insulated from economic crisis.
Moody’s has cut the rating of South Africa and the banking sector by a notch. This means the government’s infrastructure ambitions have to be trimmed.
Swaziland’s university failed to re-open for the new academic year on Monday, officials said, adding it would remain closed indefinitely.
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/ 24 January 2011
Ireland’s crumbling government held crisis talks with opposition parties on Monday over their demands to bring elections forward to February.
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/ 11 January 2011
Japan pledged on Tuesday to buy eurozone bonds this month in a show of support for Europe’s struggle with a seething debt crisis.
Irish Prime Minister Brian Cowen faced a backlash on Monday for agreeing the EU-IMF bailout for his debt-laden nation.
European nations aim to formally launch the biggest financial bail-out of a country this week and hope it will bring calm to the markets.