Last remaining seats to the Jpost 2017 Annual Conference! Get your special offer now

Cyprus says options still open on funding for banks

ByREUTERS
June 19, 2012 10:51

NICOSIA - Cyprus still has options open to find urgently needed funds to recapitalize its banks, either through the EU rescue fund or through a bilateral loan, its finance minister said on Tuesday.

"We are optimistic we will get the financing we need to recapitalize the banks, whether that will be through a bilateral agreement, or through the mechanism, the EFSF," Finance Minister Vassos Shiarly said. "We believe that with a new Greek government now swifter arrangements can be made (in this direction)."

Cyprus faces a regulatory deadline to find 1.8 billion euros to recapitalize its second largest bank by the end of this month after its balance sheet was damaged by a write-off of Greek debt earlier this year.

Share this article via
from around the web
Related Content
Breaking news
April 29, 2017
US could speed up North Korea sanctions in response to missile test - official

By REUTERS

Top Stories
Israel Weather
  • 13 - 30
    Beer Sheva
    14 - 24
    Tel Aviv - Yafo
  • 13 - 26
    Jerusalem
    16 - 23
    Haifa
  • 22 - 35
    Elat
    16 - 32
    Tiberias