login
login
Image header Agence Europe
Europe Daily Bulletin No. 10626
ECONOMY - FINANCE - BUSINESS / (ae) cyprus

Commission refuses to comment on bailout idea

Brussels, 04/06/2012 (Agence Europe) - On Monday 4 June, the European Commission refused to comment on rumours that Cyprus, which will be taking over the rolling presidency of the Council of the EU from Denmark on 1 July 2012, may request a European bailout. A Commission spokesperson said there was nothing new to comment upon on the bank, economy or budget questions for Cyprus over and above the Commission's spring economic forecasts and recommendations. The spokesperson said the Commission was confident about Cyprus' ability to overcome problems and introduce reform. Last week, President Christofias of Cyprus would not rule out the need for aid from the European Financial Stability Facility to help Cypriot banks, suffering from the Greek crisis. The second biggest lender in the Greek part of Cyprus, the Cypriot Popular Bank, needs capital of some €1.7bn. (MB/transl.fl)

Contents

A LOOK BEHIND THE NEWS
ECONOMY - FINANCE - BUSINESS
SECTORAL POLICIES
EXTERNAL ACTION
SOCIAL AFFAIRS - EDUCATION
WEEKLY SUPPLEMENT