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In a bid to secure an EU bailout, the Cypriot parliament has adopted laws creating a “solidarity fund” to pool assets as the basis for an emergency bond issue and allowing the government to impose capital controls for the country's banks. Nicosia introduced emergency legislation in the parliament late on Thursday to secure a bailout package from the international lenders...
The Cypriot parliament has voted against a revised bank deposit levy. The tax was meant to shave 9.9% off any deposits over €100,000 and has since caused uproar in the country. Thirty six deputies voted against the proposal to tax bank deposits  in the 56-member chamber, while 19 abstained. One deputy was not present for the vote. "The bill has been...
Panic withdrawals hit Cyprus after officials announced bailout terms viewed as 'robbery' by the public, as the UK is reportedly ready to protect British depositors’ savings. The adage ‘the best way to rob a bank is to own a bank’ has perhaps never before held more truth than now. On Saturday, Cypriot deposit-holders got a nasty surprise when they learned that...
A message posted on a jihadist website on Sunday promised that “terrible” attacks will soon strike the US, France, Denmark and other European countries. “Where will the next strike by Al-Qaeda be?” a message on the Ansar al-Mujahidin network read, followed by: “The house of disbelief: America, France, Denmark and other countries in Europe, and in the countries that helped and...
People around the world ushered in 2013 with a fanfare of record-breaking fireworks displays and raucous revelry. However, the New Year was also a more somber occasion for some, overshadowed by the events of 2012. Sydney's celebrations have set the tone for the first iconic images of the new year, which started sweeping across the Pacific with stunning displays of...