Close
Log in
Please enter your login details

Skip to main content

Breaking News
  • Overloaded wooden boat carrying Indonesian migrants has sank off the coast of Malaysia killing at least 14
  • Migrants taken off Hungarian train at Bicske bang on windows shouting “no camp, no camp”
  • Germany is expecting 800,000 asylum seekers this year, four times higher than in 2014, says Labour and Social Affairs minister
  • Polish PM Ewa Kopacz says the European Union must help people who flee wars, and Poland is ready to discuss its role, but it does not want to accept automatic quotas
  • Iran’s Supreme Leader Khamenei says preserving sanctions against Iran would cause collapse of nuclear deal, says sanctions should be lifted, not suspended
  • Poland’s PM Kopacz says Poland opposes automatic quotas on accepting migrants, but ready to discuss acceptance on voluntary basis
  • EU Council president Tusk says at least 100,000 refugees should be fairly distributed around the European Union.
  • Hungarian PM Viktor Orban says the refugee problem is German, not European: “European leaders are not able to control the situation.”
Facebook Twitter Google+ Reddit

Cyprus time-bomb

22/03/13 19:11 CET

Protests in the streets and closed banks after Cyprus’s financial time-bomb exploded.

The island has been asking Europe for help for some time, but the conditions for that aid, when it finally came, shocked many. For the first time in the European financial crisis, ordinary bank depositors were being asked to contribute through a one-time levy on their savings.

Cyprus’s parliament strongly rejected the plan, which raised many questions. The country’s banks remained shut for a week, but what is hidden in their accounts? Who has their money there? And what could this mean for the global banking system?

We discuss all this with Nejra Cehic from Bloomberg in this edition of Business Weekly.

More about: