Brussels, 11/06/2012 (Agence Europe) - On Monday 11 June, Cypriot Finance Minister Vassos Shiarly acknowledged that his country may ask for international financial aid at the end of June. Last weekend, Spain became the fourth eurozone country to appeal to the solidarity of its partners (see related article). Quoted by Reuters, Shiarly said that “the problem is urgent. We know that recapitalising the banks must be done before 30 June and there are now only a few days left”. The aid envisaged by the island, which is preparing to take over the reins of the half-yearly presidency of the Council of the EU at the beginning of July, would cover its budgetary requirements and those of the Cypriot banking sector. Shiarly said that “when a country appeals for a support mechanism, you take into account all the different elements, including the requirements that may arise afterwards. Subsequently, this involves a demand for comprehensive aid that covers not only the current circumstances and recapitalisation of the banks but also of future needs”. The Cypriot state may be called upon to rescue the Popular Bank of Cyprus. The second biggest bank in the country has been weakened by its exposure in Greece and is seeking €2 billion (10% of the country's GDP). (MB/transl.fl)