Reuters logo
ECB's Asmussen says hopes for swift Cyprus aid deal
January 10, 2013 / 6:15 PM / 5 years ago

ECB's Asmussen says hopes for swift Cyprus aid deal

BERLIN, Jan 10 (Reuters) - European Central Bank policymaker Joerg Asmussen said on Thursday he hoped Cyprus would be able to conclude a full-fledged aid programme with international lenders after euro zone finance ministers have discussed the issue on January 21.

“I believe we have to reach a swift conclusion (on Cyprus). We are still waiting for the results of an evaluation of the Cypriot banking sector, which should come in mid-January. Then the Eurogroup on Jan. 21 can have a first discussion,” Asmussen said in a panel discussion.

“...in the weeks following that we will hopefully be able to conclude a fully-fledged programme,” Asmussen added.

German Chancellor Angela Merkel said on Wednesday she expected a bailout for Cyprus to take time. Germany, like some other member states, has concerns over what it sees as a lack of transparency in the financial sector in Cyprus, a popular tax haven for wealthy Russians.

The Mediterranean island applied for a financial rescue from the European Union and the International Monetary Fund last June after its banks suffered huge losses on the EU-approved writedown on Greece’s debt.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below