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EU pushes Cyprus to take a full €10 billion bailout program

By FXstreet.com,  June 19, 2012, 12:16:00 PM EDT

FXstreet.com (Córdoba) - European authorities are pushing Cyprus to take a full bailout package worth €10 billion instead of Cyprus intention to limit any aid to its banking system and thus avoid strong supervision of the troika.

That will be the fifth member of the 17 member euro zone to end up with a bailout, along with Greece, Portugal and Ireland, while Spain is in talks for a rescue limited to its banks.

Negotiations with Cyprus will continue on June 21 when euro-area finance ministers will also discuss about help for Spain's banking system and a possible relaxation of Greek aid terms.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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