Markets

The Bank Of Cyprus’ Biggest Shareholder Is A Russian Oligarch With An Insane Real Estate Portfolio

[credit provider=”YouTube” url=”http://www.youtube.com/watch?v=ffcueHZHI6Y”] Russian oligarch Dmitry Rybolovlev is the largest shareholder in the Bank of Cyprus, with a 9.9% stake in the company.He may have slept better this weekend when European officials announced that Cypriot banks would get a much-needed bailout, but on the condition that they accept a one-time […]
The Bank Of Cyprus’ Biggest Shareholder Is A Russian Oligarch With An Insane Real Estate Portfolio
Markets

BUITER: Here’s Why The Cyprus Deal Is The Best Thing That’s Happened For Europe In Years

[credit provider=”Bloomberg” url=”http://www.bloomberg.com/video/citigroup-s-buiter-on-euro-zone-debt-crisis-OiLvjEYsQAKDH6BIMbJRWA.html”] Citi chief economist Willem Buiter has been one of the sceptics towards official policy over the course of the Eurozone crisis.Ever since ECB President Mario Draghi put markets to bed for an extended rest in July with his “whatever it takes to save the euro” speech, Buiter […]
BUITER: Here’s Why The Cyprus Deal Is The Best Thing That’s Happened For Europe In Years
Markets

JPMORGAN: Here’s What Happens To Markets If Cyprus DOESN’T Pass Their Bailout Deal

[credit provider=”Arenamontanus / Flickr” url=”http://www.flickr.com/photos/arenamontanus/272229055/”] This morning, it was announced that a vote in the Cypriot parliament on the bailout deal hatched with the EU over the weekend will be postponed until Tuesday.The deal contains a haircut on depositors – meaning those with deposits in the bank have to pay […]
JPMORGAN: Here’s What Happens To Markets If Cyprus DOESN’T Pass Their Bailout Deal
Markets

REPORT: Cyprus Banks Will Remain Closed Until Thursday

[credit provider=”AP”] Via Bloomberg, AP is reporting that Cypriot banks will now remain closed through Thursday.The bank bailout deal was completed over the weekend to take advantage of a bank holiday in the EU today, owing to the St. Patrick’s Day holiday.
REPORT: Cyprus Banks Will Remain Closed Until Thursday
Markets

MORGAN STANLEY: Russia Will Be A Big Obstacle To The Cyprus Deal

[credit provider=”Reuters”] Morgan Stanley analysts say the unprecedented depositor haircut agreed to as part of this weekend’s bailout deal of the Cypriot banking system will be good for the sovereign, echoing similar comments by Goldman.Daniele Antonucci, a Europe economist for Morgan Stanley, says that “assuming a successful implementation of the […]
MORGAN STANLEY: Russia Will Be A Big Obstacle To The Cyprus Deal
Markets

GOLDMAN: Now Everyone With Deposits In Euro Zone Banks Has To Worry About A New Wealth Tax

[credit provider=”Tim Moffatt/Flickr” url=”http://www.flickr.com/photos/[email protected]/5268897445/sizes/m/”] The Cyprus bailout deal has a lot of people scratching their heads over what EU leaders were thinking when they came up with it.As part of a plan to rescue Cypriot banks, deposit-holders in those banks will be subjected to an immediate expropriation of a certain […]
GOLDMAN: Now Everyone With Deposits In Euro Zone Banks Has To Worry About A New Wealth Tax
Markets

CYPRIOT BANK EMPLOYEE: Are We Guinea Pigs?

Under the palm trees of Larnaca’s waterfront promenade, George Kyprou was staring out to sea and scratching his head. “I don’t know what to do,” he said. Like most Cypriots, he was astonished to wake up one bank holiday weekend morning to discover the government had seized up to 10% […]
CYPRIOT BANK EMPLOYEE: Are We Guinea Pigs?
Markets

GOLDMAN: Two Big Lessons From The Cyprus Bailout

[clear] Goldman Sachs is out with a reaction to the Cyprus bailout deal negotiated over the weekend, the most controversial part of which entails a haircut on bank deposits, something that hasn’t yet been seen until now in the euro crisis saga.
GOLDMAN: Two Big Lessons From The Cyprus Bailout
Markets

The Cyprus Bailout Is Unfair, Short-Sighted, And Self-Defeating

[credit provider=”My Take on Financial Events” url=”http://brucekrasting.blogspot.com/2011/08/brush-fire-bailout-straw-that-breaks-eu.html”] IT IS not a fudge, but it is still a failure. The euro zone’s bail-out of Cyprus, which was sealed in the early hours of Saturday, did get the bill for creditor countries down from €17 billion to €10 billion, as had been […]
The Cyprus Bailout Is Unfair, Short-Sighted, And Self-Defeating
Markets

JPMORGAN: Europe May Have Just ‘Bazookaed Itself In The Foot’

[credit provider=”Koichi Kamoshida/Getty Images”] One of the biggest problems presented by the euro crisis has been the financial connection between the banks and their governments.For the most part, the biggest holders of any country’s sovereign debt are that country’s own banking system. So, when the government comes under pressure in […]
JPMORGAN: Europe May Have Just ‘Bazookaed Itself In The Foot’
Markets

MOHAMED EL-ERIAN: The EU Had Four Valid Reasons To Force Cypriot Depositors To Pay Up

[credit provider=”Yahoo Finance” url=”http://finance.yahoo.com/blogs/daily-ticker/pimco-el-erian-equity-prices-artificially-high-time-193327198.html?desktop_view_default=true”] Mohamed El-Erian – CEO of PIMCO, the biggest bond fund in the world – is out with a reaction in the FT to this weekend’s stunning Cyprus bailout deal.(The terms of the deal include an instant, 10-per cent “tax” on deposits held in Cypriot banks before […]
MOHAMED EL-ERIAN: The EU Had Four Valid Reasons To Force Cypriot Depositors To Pay Up
Markets

ANALYST: The Cyprus Deal Could Be The ‘Trigger’ We Were Waiting For In Europe

[credit provider=”Stephen Z on Flickr” url=”http://www.flickr.com/photos/szuppo/200037611/in/photostream/”] On Thursday, Société Générale analysts made a prescient call on Europe.”It is far too early to dismiss euro area crisis as a key [market] driver,” wrote SocGen’s Vincent Chaigneau. “We fear another shockwave in the spring.”
ANALYST: The Cyprus Deal Could Be The ‘Trigger’ We Were Waiting For In Europe
News

IMF: Taxpayers and Democracy Must Bail Out Eurozone Banks

[credit provider=”Ralph Orlowski / Getty”] Why is it that 17 nations have to fundamentally reorganize themselves and shift sovereignty away from national parliaments to new layers of transnational, beyond-control bureaucracies that can extract untold wealth from taxpayers—just to save the banks?That’s what the Eurozone has to do, or else banks […]
IMF: Taxpayers and Democracy Must Bail Out Eurozone Banks
Markets

SOCGEN: Another ‘Eurozone Shockwave’ Is Coming This Spring

[credit provider=”Société Générale”] Société Générale strategists are warning clients of another “Eurozone shockwave” coming this spring.In fact, they say it’s going to be one of the three major themes driving global currency markets for the rest of 2013.
SOCGEN: Another ‘Eurozone Shockwave’ Is Coming This Spring
Markets

DEUTSCHE BANK: Only Jesus Can Save The Euro

[credit provider=”James Shepard/Flickr” url=”http://www.flickr.com/photos/biblevector/5264271568/”] Deutsche Bank’s global head of FX strategy, Bilal Hafeez, recently gave a speech at the annual Deutsche Bank Mittelstand (small and medium-sized enterprises) FX conference in Hamburg, Germany.The bank’s research department transcribed Hafeez’s speech and sent it out to clients in a note.
DEUTSCHE BANK: Only Jesus Can Save The Euro
Markets

‘GIRLFRIEND IN A COMA:’ The Banned Documentary That Showed Why Italian Voters Were The First To Rebel

[credit provider=”Bill Emmott/Girlfriend In A Coma” url=”http://girlfriendinacoma.eu”] A day before election day two weeks ago, Italian authorities halted a screening of a documentary by the former editor of The Economist about the country’s society-wide crisis.The film, “Girlfriend In A Coma” — a play on the Smiths’ song speaking to Emmott’s […]
‘GIRLFRIEND IN A COMA:’ The Banned Documentary That Showed Why Italian Voters Were The First To Rebel
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