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Image header Agence Europe
Europe Daily Bulletin No. 10637
ECONOMY - FINANCE - BUSINESS / (ae) economy

Russia may give aid to Cyprus this week

Brussels, 19/06/2012 (Agence Europe) - Cyprus is hoping to negotiate financial aid from Russia this week, reported the New York Times on Monday. One of the smallest economies in the eurozone, Cyprus needs €1.8 billion (10% of GDP) by the end of the month to bail out the country's second largest bank, Cyprus Popular Bank. Cypriot banks are suffering from the write-down of Greek debt, which has cost them €3 billion and the country has not been able to roll over debt on the money markets...

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