Next step on bailout is up to Cyprus -Austria finmin

VIENNA, March 20 Wed Mar 20, 2013 3:49am EDT

Related Topics

VIENNA, March 20 (Reuters) - Cyprus must make the next move if it wants to revive its international bailout and European institutions will not fund it forever on current terms, Austrian Finance Minister Maria Fekter said on Wednesday.

"We will certainly help the Cypriots but only under conditions that make sense. Certainly neither the ESM (euro zone bailout fund) nor the ECB can allow a bottomless pit," she told reporters, adding lenders cannot accept any measures that increase Cyprus's debt further.

Cyprus overwhelmingly rejected a proposed levy on bank deposits as a condition for a European bailout on Tuesday, throwing international efforts to rescue the latest casualty of the euro zone debt crisis into disarray.

FILED UNDER:
A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article