Cyprus will offer citizenship to foreigners who lost at least €3 million in state banks under the bailout deal, the country’s president has announced. The new measure, to a great extent affecting Russians, is expected to be approved on Monday. In remarks to Russian businessmen and media in the city of Limassol, President Nicos Anastasiades stated that his cabinet is seeking to approve the relaxation... 

Cypriot President Nicos Anastasiades Cypriot President Nicos Anastasiades says no one, not even members of his own family, will be immune to investigations of alleged financial wrongdoing in the run-up to an international bailout deal. Anastasiades made the remarks on Monday evening in reaction to reports accusing his relatives of transferring millions of euros out of the island state to London. A... 

Large depositors stand to lose up to 60 percent of their savings as Cyprus enforces the controversial conditions of a €10-billion bank bailout from the eurozone and the International Monetary Fund. Officials said that deposits over €100,000 ($128,225) at the country’s largest bank will lose 37.5 percent of their value after being converted into bank shares. The losses could increase by another...