Cyprus http://kunc.org en Cyprus Passes Tough Financial Bailout Package http://kunc.org/post/cyprus-passes-tough-financial-bailout-package Lawmakers in Cyprus approved a controversial $13 billion bailout from international lenders that's aimed at keeping the country from a messy default and withdrawal from the eurozone.<p>The agreement, which totals $30 billion when Cyprus' own contributions are included, passed 29-27 in the 56-seat Parliament.<p>The ruling center-right Democratic Rally party and its ally, the Democratic party, voted for the measure.<p>"If there was another realistic alternative, our decision would surely be different. Tue, 30 Apr 2013 19:25:00 +0000 Scott Neuman 43658 at http://kunc.org Cyprus Passes Tough Financial Bailout Package Price Tag On Cyprus Bailout Goes Up http://kunc.org/post/price-tag-cyprus-bailout-goes It's going to cost more to bail out Cyprus than originally projected, with officials now saying the cost will be $30 billion instead of the original estimate of $23 billion.<p>"It's a fact the memorandum of November talked about 17.5 billion [euros] in financing needs. And it has emerged this figure has become 23 billion [euros]," government spokesman Christos Stylianides was <a href="http://www.bbc.co.uk/news/business-22106194">quoted by the BBC</a> as saying on Thursday.<p>And a revised assessment of the Cyprus economy from the European Commission is particularly bleak. Thu, 11 Apr 2013 20:11:00 +0000 Scott Neuman 42783 at http://kunc.org The Ups And Downs Of Cyber Currency Bitcoin http://kunc.org/post/ups-and-downs-cyber-currency-bitcoin Transcript <p>DAVID GREENE, HOST: <p>Bitcoin is a virtual currency that's traded largely online. It was created in 2009 in the aftermath of the global financial crisis as an alternative to currencies which are controlled by countries and central bankers. But Bitcoin has been on a wild ride lately, soaring in value during the anxious days of the Cyprus banking crisis.<p>We're going to look at the currency's history in today's Business Bottom Line. Here's NPR's Steve Henn.<p>STEVE HENN, BYLINE: The money supply in the U.S. economy is controlled by the Fed. Fri, 05 Apr 2013 10:29:00 +0000 42489 at http://kunc.org Cyprus' Crisis Frames Eurozone As 'Work In Progress' http://kunc.org/post/cyprus-crisis-frames-eurozone-work-progress On the second day since Cyprus <a href="http://www.npr.org/blogs/thetwo-way/2013/03/28/175552427/banks-in-cyprus-reopen-as-islands-economy-hits-reboot">reopened its banks</a>, depositors continue to face restrictions on getting at their money. ATM withdrawals are limited to 300 euros a day, and there are limits on how much cash travelers can take abroad.<p>The controls are designed to keep worried depositors from draining the banks and moving money out of the country. Fri, 29 Mar 2013 08:43:00 +0000 John Ydstie 42208 at http://kunc.org Cyprus' Crisis Frames Eurozone As 'Work In Progress' Banks In Cyprus Reopen As Island's Economy Hits Reboot http://kunc.org/post/banks-cyprus-reopen-islands-economy-hits-reboot Banks in Cyprus <a href="http://www.npr.org/templates/story/story.php?storyId=175546096" target="_blank">reopened Thursday morning</a> — after two weeks in which they had to keep their doors closed as European leaders <a href="http://www.npr.org/blogs/thetwo-way/2013/03/24/175217576/cyprus-secures-outline-of-bailout-with-european-officials" target="_blank">worked out a bailout deal</a> for the island's struggling financial sector in a bid to keep its problems from triggering similar crises in other ailing EU nations.<p>As Joanna Kakissis tells our Newscast Desk, "To prevent bank runs, the gove Thu, 28 Mar 2013 11:04:00 +0000 Mark Memmott 42149 at http://kunc.org Banks In Cyprus Reopen As Island's Economy Hits Reboot