Cyprus bail-out deal ‘this month’
Officials from the ‘troika’ – the European Commission, European Central Bank and International Monetary Fund – have resumed contact with authorities in Cyprus as eurozone finance ministers gear up to agree on a bail-out for the country.
Work on financial assistance, expected to total €17.5 billion, had been on hold pending the outcome of presidential elections in Cyprus. After the election of Nicos Anastasiades on 24 February, finance ministers have signalled their intention to arrive at a deal by the end of March.
Jeroen Dijsselbloem, the finance minister of the Netherlands, who chaired a meeting of eurozone finance ministers on Monday (4 March), said that another meeting could be held “in the near term” so that the bail-out could be finalised.
Any deal will take into account the outcome of an independent audit of Cyprus’s implementation of anti-money laundering measures.
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