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Cyprus Struggles to Meet Bailout Demand as Deadline Looms




Play Tension Builds in the Street of Cyprus European and Cypriot officials were locked in talks to find a formula to avert the Mediterranean island’s financial collapse, struggling to forge consensus on a bailout package before the European Central Bank cuts funding.



Cyprus’s options narrowed today after Russia spurned a bid for a loan and German lawmakers dismissed the Cypriot government’s latest rescue proposals. That left the troika of international creditors to hammer out fresh terms with President Nicos Anastasiades’s coalition focusing on the fate of Cyprus’s ailing banks. “We believe that in the next few hours we could be able, with a lot of difficulties, to reach a framework that will be within the policies of the EU, European Central Bank and IMF,” Averof Neofytou, deputy president of Cyprus’s ruling Disy party, told reporters in Nicosia, referring to the troika of creditors. “We are trying hard. I believe we may have a result today.” European patience with Cyprus is running out after the country’s parliament rejected an initial plan to tax bank deposits agreed on last weekend by euro finance ministers. The same finance chiefs are now considering a plan to close Cyprus’s two biggest banks and freeze […]


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  • EUR/USD Gold CorrelationCyprus Struggles to Meet Bailout Demand as Deadline Looms
  • Cyprus Struggles to Meet Bailout Demand as Deadline Looms
  • Cyprus Struggles to Meet Bailout Demand as Deadline Looms
  • Cyprus Struggles to Meet Bailout Demand as Deadline Looms
  • Cyprus Struggles to Meet Bailout Demand as Deadline Looms
  • Cyprus Struggles to Meet Bailout Demand as Deadline Looms
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