Bubbles occur all the time, along with financial inventions. The most recent, and controversial, launched in 2009: A virtual currency called Bitcoin that enabled holders to trade directly and to hide their assets from governments.
This latest scandal claims there are 450 Canadians who may be hiding money offshore. The only solution is to impose sanctions and travel restrictions on dirty money havens and to pursue, as ruthlessly as the IRS does, deposits belonging to corrupt dictators, drug cartels or tax deadbeats.
So the Cyprus story is more than just another profligate nation begging for help. This mess may force the unification of this island, and tapping of its resources, at long last for the betterment of all its citizens. It may stop the takeover of a nation inside the EU by Russian bad guys.
BRUSSELS - Cyprus secured a package of rescue loans in tense, last-ditch negotiations early Monday, two EU diplomats said, saving the country from a banking system collapse and bankruptcy.The cash-str...
It's easy to dismiss events in Cyprus as yet another hiccup in the never-ending series of European debt crises from which Canada has managed to stay insulated. But despite Cyprus's tiny size, events t...
NICOSIA, Cyprus - An official says Cyprus' parliament had postponed the debate and vote on the controversial levy on all bank deposits that the country's creditors demanded in exchange for €10 billion...