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Home » Topics » Cyprus government

Eurozone group says it’s ready to bail out Cyprus

A Cypriot and European Union (EU) flag fly in Nicosia on June 5. The International Monetary Fund said Wednesday that Cyprus has asked for financial aid amid the eurozone sovereign debt crisis. (AFP Photo/Patrick Baz)

The eurozone is ready to bail out embattled Cyprus in coordination with the International Monetary Fund, finance ministers from the 17-nation single currency area said Wednesday. “The Eurogroup acknowledges that an adjustment programme seems warranted at this stage and considers responding favorably to it,” the ministers said in a statement…

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Cyprus requests €5 billion bailout loan

A man sits at an empty coffee shop in Old Nicosia in the Cypriot capital on June 22. Cyprus announced late on Monday that it had requested assistance from its eurozone partners, becoming the fifth out the 17 countries that share the euro to seek a rescue. (AFP Photo/Yiannis Kourtoglou)

Cyprus announced late on Monday that it had requested assistance from its eurozone partners, becoming the fifth out the 17 countries that share the euro to seek a rescue. “The government of the Republic of Cyprus has today informed the appropriate European authorities of its decision to submit to euro…

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