Budget

Cyprus, Troika agree to 20% tax on deposits over 100,000 euros at Bank of Cyprus

Cyprus, Troika agree to 20% tax on deposits over 100,000 euros at Bank of Cyprus

Cyprus and the Troika have agreed to a 20 per cent tax on deposits over 100,000 euros at the Bank of Cyprus and 4 per cent on deposits held at other banks. A senior Cypriot official told Reuters that a plan to tap nationalized pension funds would not be a part of a plan to […]

Bringing in the bullion: Germany to repatriate gold from US and France

Bringing in the bullion: Germany to repatriate gold from US and France

Germany’s central bank is set to reclaim some of its vast gold reserves held in the US and France. The move follows an audit criticizing Bundesbank for mismanagement, stating the funds had never been “verified physically.” Bundesbank announced plans to withdraw its entire 374-ton store of gold bullion from the Bank of France in Paris, […]

Worst Congress ever back to Washington to avoid government shutdown

Worst Congress ever back to Washington to avoid government shutdown

As US lawmakers return to work on Monday after a five-week recess, they will push aside big issues to once again try to avert a government shutdown before Sept. 30, thereby holding off on issues that could trigger another recession. This Congress is one of the most unpopular and unproductive in modern history, reaching an […]