Cyprus expects EU bailout deal in next 10 days

EUObserver and other sources reported that following Greece, Ireland, Portugal and Spain (banks) having received international bailouts, Cyprus was hoping to clinch an EU / IMF bailout of up to €15bn in November 2012.

However, German Finance Minister Wolfgang Schaeuble said in a newspaper interview on the 11 November 2012 that links with Russia and other 'questions' regarding the Cypriot financial sector were likely to delay a bailout decision until 2013.

• Primary Source

ESO: Background information: Cyprus seeks €11.5 billion bailout http://www.europeansources.info/record/cyprus-seeks-e11-5-billion-bailout/

Reuters, 09.11.12: Cyprus talks with lenders as debt sustainability in focus http://uk.reuters.com/article/2012/11/09/uk-eurozone-cyprus-idUKBRE8A81BU20121109

http://www.imf.org/external/country/CYP/index.htm http://www.imf.org/external/country/CYP/index.htm

European Commission: DG Economic and Financial Affairs: EU Economic Situation: Economies of the Member States: Cyprus http://ec.europa.eu/economy_finance/eu/countries/cyprus_en.htm

EUObserver, 12.11.12: Cyprus bailout only next year, says Germany http://euobserver.com/economic/118156

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