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Cyprus: Eurozone countries accept bailout request

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27-06-2012 | 13:09

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Cyprus: Eurozone countries accept bailout request

Cyprus' finance minister says officials from the European Commission, the European Central Bank and the International Monetary Fund will begin assessing next week how much bailout money the eurozone country will need to prop up its banks and flagging economy.
Vassos Shiarly said that the euro group the gather of eurozone nations accepted Wednesday Cyprus' request for financial aid along with a similar request from Spain.

IMF chief Christine Lagarde said Wednesday the Fund is ready to join its European Partners to help Cyprus return to stable economic growth and restore its banking sector.

AP

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