Bloomberg News

Troika Readies Non-Negotiable Cyprus Bailout Deal, Politis Says

October 17, 2012

The so-called troika that oversees euro-area bailouts is preparing a non-negotiable aid agreement for Cyprus even as the Cypriot government rushes to hammer out its own proposal, Politis reported.

The troika, comprised of officials from the European Commission, the European Central Bank and the International Monetary Fund, wants to impose across-the-board cuts in Cypriot public payrolls, the Nicosia-based newspaper reported today without saying where it got the information.

The troika mission will return to Cyprus early next week, Politis said.

Spokespeople for the government couldn’t immediately be reached for comment.

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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