THE HAGUE Jan 31 Vassos Shiarly, the finance
minister of Cyprus, said on Thursday he expected Russia to
extend the maturity of a 2.5 billion euros loan to 2022 from
"We have been in touch with them. We have every indication,
we hope extensions will be made to enable a sustainable debt,"
he told a Dutch parliamentary hearing in The Hague.
Shiarly appeared in parliament to address questions about a
bailout for the island.
"Provisions have been made for a bail-in, unfortunately, for
junior bondholders. A very unhappy situation but out of
necessity we have no choice," Shiarly said, referring to
bondholders contributing to a bank rescue by writing down part
of their debt.
(Reporting by Sara Webb and Gilbert Kreijger; Editing by John