March 22, 2013 / 8:26 AM / 5 years ago

Cypriot pension fund nationalisation unacceptable-Merkel quoted

BERLIN, March 22 (Reuters) - German Chancellor Angela Merkel told lawmakers on Friday the nationalisation of pension funds in Cyprus would not be an acceptable way of plugging a hole in its finances to qualify for an international bailout, parliamentary sources said.

Merkel was also quoted by two MPs from her centre-right coalition as saying that debt sustainability and the restructuring of its banks must be core elements of any new Cyprus deal, which she called an matter of “credibility”.

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