Money that's been trapped in Cyprus banks for the last two weeks could begin to cross the Atlantic and flood the American banking system starting Thursday when banks on the European island reopen, one banking expert predicts.
On Tuesday, the Cyprus parliament voted "no" on a measure that would have allowed the government to confiscate up to nearly 10 percent of all deposits in Cypriot banks. The measure was proposed after European Union countries threatened to withdraw lending support from the troubled country unless depositors shared the costs of the bailout.
He pulled off one of soccer's greatest historic upsets. Now Otto Rehhagel has been handed a task equally challenging: to make Germany popular again in crisis-hit Greece.
Europeans have so many nations in financial trouble that they came up with an acronym, PIIGS, to keep track of the worst: Portugal, Ireland, Italy, Greece and Spain. Now a sixth nation, Cyprus, is about to join this less-than-illustrious group.
As the U.S. stands at the 84 percent threshold for continuous economic slowing, it's time for Congress to take a hard, long-term look at the effects high debt have when calculating the costs and benefits of government spending.
Dominique Strauss-Kahn says he's sick of people trying to exploit his private life to make money.
Conservative candidate Nicos Anastasiades won Cyprus' presidential runoff election Sunday by one of the widest margins in 30 years and will quickly have to face the formidable task of preventing the country from suffering a financial meltdown.
The European Commission got it wrong. After first predicting the economy for the eurozone would grow slightly in the coming months, members now say wait a minute, the economy will actually shrink.
The optimism surrounding the Arab Spring is giving way to fears of the next revolution. Daily, people around the world watch the triumph of bringing down Egyptian dictator Hosni Mubarak descend into pitched battles between secular protesters and an increasingly alienated government run by elements of the Muslim Brotherhood.
