BERLIN Dec 21 Writing down Cypriot sovereign
debt is not up for question now as it is not yet clear how much
money the island will need to rescue its banks, European Central
Bank board member Joerg Asmussen said on Friday.
"There is no question of a haircut for Cyprus now ...
because we have (only) a preliminary financing need for the
banks in Cyprus. We will get the final numbers in mid-January,"
Asmussen told German TV station ARD.
"It is already foreseeable that after the final data, the
financing need will be so high that the debt level will be very
high and unsustainable," he said, adding that measures to
achieve a budget surplus and privatisations would then be looked