Rehn, Lagarde: Situation in Cyprus difficult, bank recap soon

The first signs of the Cyprus administration’s delaying tactics have started to show as Euro zone finance ministers and officials met in Brussels on Monday to discuss the debt-crisis in Greece.
While they were not expected to authorise more money for Athens, they were seen likely to discuss giving Greece two more years to meet its goals.
However, EU Economic and Monetary Affairs Commissioner Olli Rehn is getting impateient.
"It would have been important to achieve an agreement on the memorandum already earlier, because the situation is rather difficult, the economic and financial situation, it's rather difficult. But things are now moving forward," Rehn told officials in Brussles, when asked about a bailout for Cyprus.
On the other hand, IMF Managing Director Christine Lagarde left a small window of opportunity regarding aid to the two main Cypriot banks, which may be concluded within a month.
"As you know there is an assessment of bank recapitalisation needs that is ongoing at the moment that is due to be concluded later in November, early December probably. That's an important factor to really assess the size of what is needed to be done as far as the banking system is concerned in Cyprus," Lagarde said.