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.
Europe should get their finances in order.
Swaziland’s university failed to re-open for the new academic year on Monday, officials said, adding it would remain closed indefinitely.
Ireland’s crumbling government held crisis talks with opposition parties on Monday over their demands to bring elections forward to February.
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.
