Juncker: Financial bailout for Cyprus unlikely to be agreed in January

A financial bailout for Cyprus is unlikely to be agreed before the end of January, President of the Eurogroup, Jean Claude Juncker said Thursday.

"I don`t think we will be in a position to find a solution during January. It will take longer," Juncker said in statements at the European Parliament.

He added that more time will be needed to examine the viability of Cyprus` public debt.

A Eurogroup meeting will take place on the 21st of January.