Brussels, 16/01/2012 (Agence Europe) - The president of Cyprus, Demetris Christofias, has urged the president of the European Commission, José Manuel Barroso, to ensure that a direct bailout of Cypriot banks is possible from the European Stability Mechanism (ESM), retroactively if necessary. In a letter dated 11 January which this newsletter has seen, he explains that the preliminary estimates of bank capital requirements made by US company PIMCO, in the event of an unfavourable economic...