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01:29, 02 August 2014 Saturday
Economy
14:33, 04 March 2013 Monday

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Eurozone ministers address Greek Cypriot crisis

A total of 17 billion Euro is expected to be provided with the bailout programme where 8 to 10 billion is to be used for capital consolidation and the remaining for external debt payments.

World Bulletin / News Desk

Finance ministers of Eurozone on Monday gathered to discuss the bailout loan for the Greek Cypriots. Michalis Sarris, minister of finance for the Greek Cypriot administration, stated that "there was significant deposit loss due to sharing of banks's loss with account owners.

Sarris stated such a move would be "dangerous" and damaging for all EU states.

A total of 17 billion Euro is expected to be provided with the bailout programme where 8 to 10 billion is to be used for capital consolidation and the remaining for external debt payments.



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