Saturday, June 2, 2012

Yet another thread to the Eurozone Farce

Cyprus Seen Close to a Request for Bailout

"Cyprus looks increasingly set to become the fourth euro-zone country to seek financial aid under Europe's temporary bailout fund, as early as this month, as it scrambles to protect its banking system from Greece's widening financial crisis that is threatening to engulf its tiny island neighbor". "Late last year, the country negotiated a €2.5 billion ($3.1 billion) bilateral loan from Russia. Now, Cyprus is in talks with China for another bilateral loan, of an undisclosed amount, that looks unlikely to materialize in time". ( I know the answer: lets give lots of money to their banks for zombie mortgages). "Cyprus is facing a "race against the clock," said ex-president Mr. Vassiliou. (yeah, whatever...).

Posted by alan @ 12:39 PM (1200 views)
Please complete the required fields.

One thought on “Yet another thread to the Eurozone Farce

Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>