A late-night agreement between European finance ministers and the government of Cyprus will keep Cyprus in the eurozone and bail out the struggling island nation—by levying an enormous one-time tax on the biggest deposits in one of its banks. Under the deal, the Cyprus Popular Bank, or Laiki, will be divided into a…

Eurozone finance ministers are demanding a one-time levy on bank deposits of all sizes—even on insured accounts—as part of a bailout package for Cyprus, which is teetering on the brink of bankruptcy. Cypriots sprinted to banks and ATMs this weekend, waiting in long lines to withdraw cash after hearing about the plan…

The 11th suspect in the Russian spy case, Christopher Robert Metsos, who was arrested and released on bail in Cyprus on Tuesday, surprisingly didn't show up the next day to speak with police. A manhunt is now underway.