News Headlines - 21 March 2013

▽ECB issues ultimatum to Cyprus - FT.com

The European Central Bank raised the stakes in the Cyprus crisis on Thursday, telling Nicosia it had until Monday to agree a bailout with the EU and International Monetary Fund or it would cut off emergency low-cost loans that are the only thing keeping the country’s banks alive.

▽Kuroda Confident in Getting 2% Inflation as BOJ Readies Stimulus - Bloomberg

Bank of Japan Governor Haruhiko Kuroda said he’s confident in achieving a 2 percent inflation target, rebutting doubters who predict his efforts will fail as he prepares to strengthen monetary stimulus.

▽George Osborne accused of breaking his promise not to fiddle figures - Telegraph

The Institute for Fiscal Studies, an independent think tank, suggested that the Chancellor had engaged in the same sort of economic manipulation he criticised Gordon Brown for. Budget figures showed the Government borrowed ￡121 billion last year. This year borrowing will be ￡120.9 billion.

▽Nicolas Sarkozy placed under formal investigation - Telegraph

Nicolas Sarkozy has been placed under formal investigation for allegedly taking advantage of the ailing L'Oreal heiress Liliane Bettencourt and accepting cash-stuffed brown envelopes from her to illegally fund his 2007 election campaign.

▽Italy's Bersani manoeuvres for new government | Reuters

Italian centre-left leader Pier Luigi Bersani on Thursday appealed to all parties in parliament to back a new government, a move that may brighten prospects of resolving the political deadlock following last month's inconclusive election.