BERLIN Jan 11 The European Union's top economic
official Olli Rehn was quoted on Friday as ruling out a debt
restructuring for euro zone member Cyprus, currently in talks
with the EU and the IMF on a financial rescue package.
"A haircut is not an option for us," Rehn, the European
Economic and Monetary Affairs Commissioner, told the German
business daily Handelsblatt in an interview.
Ratings agency Moody's slashed Cyprus's credit rating three
notches late on Thursday on an expected rise in the
Mediterranean island's debt burden. Cyprus applied for a
financial rescue last June after its banks suffered huge losses
on the EU-approved writedown on Greece's debt.