Bloomberg News

Cyprus Says Bilateral Loan for Banks Is Option, CyBC Reports

June 13, 2012

Cyprus is considering several options to finance the recapitalization of its banks, including that of a bilateral loan, CyBC radio reported today, citing Finance Minister Vassos Shiarly.

The conditions under which Cyprus could resort to the European rescue mechanism before June 30, which is also among the options, would not be burdensome, CyBC reported, citing Shiarly.

To contact the reporter on this story: Stelios Orphanides in Nicosia at sorphanides@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net


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