Cyprus Will Be Fifth to Ask for Bailout
The country has already asked Russia for a 5 billion-euro loan.
Spanish Banks Downgraded as Cyprus Seeks Bailout
The troubled eurozone continued to experience turmoil as Moody’s downgraded 28 Spanish banks and Cyprus requested a bailout that could amount to more than half its economy.
Spain, Cyprus Downgraded
Moody's cut the ratings of Spain and Cyprus on Wednesday. Bond yields topped 7% for Spain, and in Italy’s first bond sale since Spain’s bailout yields surged.