Cyprus to Vote Until They Get It Right

From the AP:

Cypriot lawmakers are due to vote Friday on a raft of new measures they hope will qualify the country for a bailout package and avoid financial ruin next week. But officials in Brussels and Berlin gave no indication it would be enough.

Cyprus needs to find a way to raise the 5.8 billion euros to qualify for 10 billion euros in rescue loans from other eurozone countries and the International Monetary Fund.

The plan needs approval from eurozone and IMF and that remained elusive. Eurozone officials said they had not seen all the details and would have to discuss whatever final plan Cyprus presents.

“The next few hours will determine the future of this country,” said government spokesman Christos Stylianides.

Posted by on March 22nd, 2013 at 10:45 am


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