Brussels, 13/12/2012 (Agence Europe) - On 13 December, Eurogroup welcomed the commitment by the Cypriot government to the reforms that will be required in return for financial aid. On Wednesday, the Cypriot parliament approved a raft of draft laws to increase taxes and cut public spending. Eurozone finance ministers took note of an interim PIMCO report on Cypriot bank recapitalisation needs, which are reported to be in the region of €9.3 billion, over half of Cypriot GDP. The final report is due in mid-January. Commissioner Olli Rehn said a decision on the Cypriot aid programme might be taken in January, while the head of Eurogroup, Jean-Claude Juncker, said that the eurozone had not discussed private sector involvement in any write-down of Cypriot bonds. (EL/transl.fl)