Cyprus

Eurogroup expects Cyprus to give details on its bailout request

by fm

11th September 2012

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1 min read

Eurogroup expects from the Cypriot government precise details regarding its request for a bailout, a senior Eurogroup official has said.

“We expect to see the demands of the government which have not been submitted yet,” he said, noting that Cyprus needs a programme not only about its banking sector but also about rectifying structural imbalances.

He said Troika’s visit to Cyprus in July this year was useful.

The situation in Cyprus will be discussed on Friday in Nicosia, during a Eurogroup meeting, that will focus on the financial situation in Greece.

The Eurozone official said that Troika representatives will present, through their political heads (Rehn, Draghi and Langarde) the first data on the package of measures of 11.7 billion euro for the period 2013-2014 which the Greek government has to take.