Brussels, 13/02/2014 (Agence Europe) - The burden of non-performing loans (NPLs) on Cypriot banks needs to be addressed as a matter of urgency, a high-ranking EU official told a few reporters on Wednesday 12 February.
The official says that half of Cypriot banks' loans are non-performing and, until August or September, little was done to contain the rise of NPLs. Cypriot banks now apply a special code of conduct to contain and deal with the problem.
This is quite a complex exercise when it...