EU: Cyprus bail-out looms

The Telegraph ^ | 6/11/2012 | Emma Rowley

[bruinbirdman]

Cyprus looked poised to be the next eurozone economy to be bailed out, as its finance minister warned just days remain to meet a key deadline to shore up its banks.

Cyprus Finance Minister Vassos Shiarly hinted a bail-out looms

The island and its financial sector are heavily exposed to the problems in Greece, the recipient of two bail-outs totalling €247bn (£200bn).

Locked out of the debt markets, Cyprus is under pressure to apply for aid to help its second-largest lender. The Cyprus Popular Bank needs €1.8bn (£1.5bn) before a regulatory deadline this month.

“The issue is urgent. We know the recapitalisation of the (island’s) banks must be completed by June 30, and there are a few days left,” said Vassos Shiarly, finance minister, adding he hoped for “good terms” if Cyprus asks for aid.

Spain’s claims of a “no-strings” deal to rescue its banks have stoked hopes in other bailed-out nations that they can secure help on better terms.

In Greece, left-wing party Syrzia said the talks in Europe “open new perspectives for Greece and the eurozone”

[VanDeKoik]

So will this be a half-assed bailout or do both ends of the island get the Euro-Monopoly money?

[MCSP2008]

Salve

Imagine both my friend :}}}}}}}

Merci.
MCSP

[no-to-illegals]

and the fun continues. The euro was created to kick the can down the road. The New World Order tried to talk Canada, U.S. and medico into the same type of deal. Rejected ... on this side of the pond. The euro could soon be history. Canada, U.S. and medico is history. Canadian money still has the queen. U.S. money still has dead presidents. medico was worthless and still is. Foot, Can, Road, Cliff. Bye All.

[Cementjungle]

The euro was created to kick the can down the road

The Euro was created to bring fraud and theft to a whole new level. It seems to be working.