Asia stocks weighed down by Europe debt woes
Associated Press
Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Updated 8:23 pm, Wednesday, March 27, 2013
BANGKOK (AP) — Renewed jitters about the debt crisis in Europe sent Asian stock markets lower Thursday. Banks in Cyprus are due to open later Thursday — for limited banking only — after being shut for nearly two weeks as an emergency loan was being pieced together to prevent the nation's financial sector from collapsing. The agreement reached late Monday with international lenders gives Cyprus a 10 billion euro ($12.9 billion) bailout but slaps penalties on depositors holding more than 100,000 euros in the country's two largest banks. In an email commentary, he said investors saw the deal "as a monster in the shadows for banks in Portugal, Spain and Italy" since it requires depositors — not the public or its tax contributions — to take the pain. Reported by SeattlePI.com 55 minutes ago.
Associated Press
Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Updated 8:23 pm, Wednesday, March 27, 2013
BANGKOK (AP) — Renewed jitters about the debt crisis in Europe sent Asian stock markets lower Thursday. Banks in Cyprus are due to open later Thursday — for limited banking only — after being shut for nearly two weeks as an emergency loan was being pieced together to prevent the nation's financial sector from collapsing. The agreement reached late Monday with international lenders gives Cyprus a 10 billion euro ($12.9 billion) bailout but slaps penalties on depositors holding more than 100,000 euros in the country's two largest banks. In an email commentary, he said investors saw the deal "as a monster in the shadows for banks in Portugal, Spain and Italy" since it requires depositors — not the public or its tax contributions — to take the pain. Reported by SeattlePI.com 55 minutes ago.