CNN's Richard Quest explains why Cyrpus' banking sector is unlike any other in the region.... ( read more )
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The Cyprus bank bailout was a major event in the European Union's economic history. In 2013, the small Mediterranean island nation of Cyprus faced a financial crisis as its banks suffered from a series of bad investments and a shrinking economy. The banks were unable to meet their obligations, leading to a dramatic, multi-billion euro bailout. What led to this crisis, and why did the EU feel it necessary to step in and assist Cyprus? The Cyprus bank bailout was necessitated by a number of factors. First and foremost was the overheating of the Cypriot economy in the years leading up to the crisis. Following its accession to the European Union in 2004, Cyprus experienced a per
Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)