10-20-2019  1:21 am   •   PDX Weather    •   SEA weather  
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NORTHWEST NEWS

Washington State to Vote on Affirmative Action Referendum

More than two decades after voters banned affirmative action, the question of whether one's minority status should be considered in state employment, contracting, colleges admissions is back on the ballot

Merkley Introduces Legislation that Protects Access to Health Care for Those Who Cannot Afford Bail

Under current law, individuals in custody who have not been convicted of a crime are denied Medicare, Medicaid, and veterans’ benefits

New County Hire Aims to Build Trust, Transparency Between Community and Public Safety Officials

Leneice Rice will serve as a liaison focused on documenting and reporting feedback from a community whose faith in law enforcement has been tested

Hank Willis Thomas Exhibit Opens at Portland Art Museum

One of the most important conceptual artists of our time, his works examine the representation of race and the politics of visual culture

NEWS BRIEFS

GFO Offers African Americans Help in Solving Family Mysteries

The Genealogical Forum of Oregon is holding an African American Special Interest Group Saturday, Oct. 19 ...

Third Annual NAMC-WA Gala Features Leader on Minority Business Development

The topic of the Washington Chapter of the National Association of Minority Contractors' event was 'Community and Collaboration' ...

Building Bridges Event Aims to Strengthen Trust Between Communities

The 4th Annual Building Bridges of Understanding in Our Communities: Confronting Hate will be held in Tigard on...

The Black Man Project Kicks Off National Tour in Seattle

The first in a series of interactive conversations focused on Black men and vulnerability takes place in Seattle on October 25 ...

Protesters Rally in Ashland to Demand 'Impeach Trump Now'

Activists are rallying in Ashland Sunday Oct, 13 to demand impeachment proceedings ...

Video shows coach disarming, embracing Oregon student

PORTLAND, Ore. (AP) — Authorities have released a video that shows part of a former Oregon football star's successful effort to disarm a student who brought a shotgun to a Portland high school.The video released Friday by the Multnomah County District Attorney's Office shows Keanon Lowe and...

Parents guilty of starving 5-year-old daughter to death

BEND, Ore. (AP) — A jury has convicted a Redmond couple of starving their 5-year-old adopted daughter to death.The Bulletin reports by unanimous jury verdicts Friday after a weekslong trial, Sacora Horn-Garcia and Estevan Garcia were found guilty of murder by abuse and criminal...

Vaughn scores twice, Vandy upsets No. 22 Missouri 21-14

NASHVILLE, Tenn. (AP) — Derek Mason wants it known he's the best coach for the Vanderbilt Commodores.Riley Neal came off the bench and threw a 21-yard touchdown to Cam Johnson with 8:57 left, and Vanderbilt upset No. 22 Missouri 21-14 on Saturday with a stifling defensive...

No. 22 Missouri heads to Vandy, 1st road trip since opener

NASHVILLE, Tenn. (AP) — Missouri coach Barry Odom knows only too well the dangers of going on the road and how a few mistakes can prove very costly.While some of his players my not remember that stunning loss at Wyoming to open this season, Odom hasn't forgotten."We're going to treat it just...

OPINION

Atatiana Jefferson, Killed by Police Officer in Her Own Home

Atatiana Jefferson, a biology graduate who worked in the pharmaceutical industry and was contemplating becoming a doctor, lived a life of purpose that mattered ...

“Hell No!” That Is My Message to Those Who Would Divide Us 

Upon release from the South African jail, Nelson Mandela told UAW Local 600 members “It is you who have made the United States of America a superpower, a leader of the world" ...

Rep. Janelle Bynum Issues Response to the Latest Statement from Clackamas Town Center

State legislator questions official response after daughter questioned for ‘loitering’ in parking lot ...

Why Would HUD Gut Its Own Disparate Impact Rule?

"You can’t expand housing rights by limiting civil protections. The ’D’ in HUD doesn’t stand for ‘Discrimination’" ...

AFRICAN AMERICANS IN THE NEWS

New Emmett Till marker dedicated to replace vandalized sign

GLENDORA, Miss. (AP) — A new bulletproof memorial to Emmett Till was dedicated Saturday in Mississippi after previous historical markers were repeatedly vandalized.The brutal slaying of the 14-year-old black teenager helped spur the civil rights movement more than 60 years ago.The...

Parents sue Virginia school district over racist 2017 video

HENRICO, Va. (AP) — The parents of a Virginia student who say their son was assaulted and bullied by his middle school football teammates in an incident captured on video two years ago are suing the school system.The video, which showed football players simulating sex acts on black students...

Team abandons FA Cup qualifier after racial abuse

LONDON (AP) — An FA Cup qualifier between Haringey Borough and Yeovil was abandoned Saturday when the home team walked off the field after one of its players was racially abused.Haringey, a London-based non-league club, walked off in the 64th minute after claims its Cameroonian goalkeeper...

ENTERTAINMENT

Adam Lambert: Happy to see more LGBTQ artists find success

NEW YORK (AP) — Adam Lambert, who rose on the music scene as the runner-up on "America Idol" in 2009, says he's happy to see more mainstream LGBTQ artists find major success."I think it's less taboo to be queer in the music industry now because there's so many cases you can point to like,...

Jane Fonda returns to civil disobedience for climate change

WASHINGTON (AP) — Inspired by the climate activism of a Swedish teenager, Jane Fonda says she's returning to civil disobedience nearly a half-century after she was last arrested at a protest.Fonda, known for her opposition to the Vietnam War, was one of 17 climate protesters arrested Friday...

Naomi Wolf and publisher part ways amid delay of new book

NEW YORK (AP) — Naomi Wolf and her U.S. publisher have split up amid a dispute over her latest book, "Outrages."Wolf and Houghton Mifflin Harcourt announced separately Friday that they had "mutually and amicably agreed to part company" and that Houghton would not be releasing "Outrages."...

U.S. & WORLD NEWS

Altuve's HR in 9th sends Astros to World Series over Yankees

HOUSTON (AP) — Jose Altuve, the 5-foot-6 driving force of Houston, delivered a swing that will play in...

Impeachment inquiry puts spotlight on Perry, who shunned it

WASHINGTON (AP) — Long after more flamboyant colleagues flamed out of President Donald Trump's favor amid...

Hong Kong activist stabbed as protesters gird for march

HONG KONG (AP) — A man distributing leaflets near a wall with pro-democracy messages was stabbed and...

Botswana, calm for decades, faces surprising election fight

GABORONE, Botswana (AP) — Botswana's ruling party faces the tightest election of its history on Wednesday...

Ethiopia's Nobel-winning leader launches million-copy book

ADDIS ABABA, Ethiopia (AP) — Ethiopia's Nobel Peace Prize-winning prime minister is launching a book of his...

Bolivians pick between Evo Morales and change in tight vote

LA PAZ, Bolivia (AP) — South America's longest-serving leader is seeking an unprecedented fourth term in...

McMenamins
Mark Thompson CNN Money

LONDON (CNNMoney) -- Cyprus' banks will remain shut until Thursday to give regulators time to guard against a run on deposits, the Ministry of Finance announced Monday.

Cyprus agreed early Monday to raise billions of euros from big depositors at the Bank of Cyprus and Popular Bank of Cyprus, and to shrink its banking sector dramatically, in return for a €10 billion European Union rescue package.

The tiny island had allowed its banking industry to grow to about seven times the size of the economy, based on total assets, attracting depositors and businesses with its low rate of tax. But the banks were brought crashing down by losses on Greek government debt, pushing the country to the brink of bankruptcy.

Cypriot President Nicos Anastasiades said in a statement Monday that the bailout package would avert "the collapse and the bankruptcy of the state," and that the banking system "will be stabilized."

"The danger for the bankruptcy of Cyprus is definitely left behind and the tragic consequences for the economy and the society are averted," Anastasiades said. "I don't even want to think what our day would be tomorrow without an agreement."

The original terms of the bailout, announced on March 16, included a levy on all Cypriot deposits including those of less than €100,000 insured under EU rules. That provision was thrown out by Cypriot lawmakers but not before long queues had formed at ATMs as people rushed to withdraw their savings.

Limits on withdrawals were introduced and the banks remained shut all last week after the European Central Bank said it would cut off emergency funding if Cyprus was unable to agree to a bailout with the EU and International Monetary Fund. Monday was a scheduled bank holiday in Cyprus.

The ECB said Monday it would continue to provide emergency liquidity assistance, given the agreement on "restoring the viability of the Cypriot financial system," but would continue to monitor the situation closely.

By clinching a bailout, Cyprus has at least temporarily avoided financial collapse and secured its place in the eurozone, but will pay a high price as one of its main service industries contracts rapidly and foreign investors seek a safer home for their cash.

Deposits of over €100,000 at Bank of Cyprus and Popular Bank will be frozen until they have been restructured. Popular Bank will be split up, its viable assets and insured deposits transferred to Bank of Cyprus, and its non-performing loans moved into a bad bank that will be wound down.

Big depositors at Popular Bank face complete wipe-out, along with shareholders and bondholders.

The losses facing big depositors as part of a deposit-equity conversion at Bank of Cyprus have yet to be determined but could be around 30%, a Cypriot government minister said Monday. Again, shareholders and bondholders will be tapped first.

The Cypriot parliament last week gave the government powers to implement temporary capital controls, which would restrict depositors from moving their money out of the country. It remains unclear exactly what sort of restrictions will be implemented, however.

Anastasiades said in his statement that on Tuesday, Cyprus' Central Bank "will implement ... certain restrictive measures with regard to financial transactions," though he did not provide specifics.

"It concerns a very temporary measure, which will gradually be relaxed," he said. "I want to assure you that we will do whatever possible so that we can return soon to full normalcy."

CNN Wires staff and CNNMoney's James O'Toole contributed reporting.

 

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