Monday, 18 March 2013

Economy News Headlines - Yahoo! News: Asia stocks bounce back after Cyprus scare

Economy News Headlines - Yahoo! News
Get the latest economy news headlines from Yahoo! News. Find breaking economy news, including analysis and opinion on top economy stories, photos and more.
Asia stocks bounce back after Cyprus scare
Mar 19th 2013, 03:16

In this image taken Saturday, March 16, 2013, people queue to use an ATM machine outside of Bank of Cyprus branch in southern port city of Limassol, Saturday, March 16, 2013. Many rushed to cooperative banks which are open Saturdays in Cyprus after learning that the terms of a bailout deal that the cash-strapped country hammered out with international lenders includes a one-time levy on bank deposits. The move, decided in an extraordinary meeting of the finance ministers of the 17-nation eurozone in the early hours Saturday, is a major departure from established policies. Analysts have warned that making depositors take a hit threatens to undermine investors' confidence in other weaker eurozone economies and might possibly lead to bank runs. (AP Photo/Pavlos Vrionides)BANGKOK (AP) — Asian stock markets rose Tuesday, shaking off jitters sparked by a plan to give bank deposits in Cyprus a haircut to help fund the European country's bailout.


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