Cyprus seeks EU bailout

The Mediterranean island nation says it needs about $2 billion in the next few days to help shore up the Cyprus Popular Bank, which has been heavily exposed to the teetering Greek economy.
The Mediterranean island nation says it needs about $2 billion in the next few days to help shore up the Cyprus Popular Bank, which has been heavily exposed to the teetering Greek economy. Supplied

CYPRUS is the latest European country to ask for an EU bailout, saying it needs urgent funds to recapitalise its second largest bank.

The Mediterranean island nation says it needs about $2 billion in the next few days to help shore up the Cyprus Popular Bank, which has been heavily exposed to the teetering Greek economy.

Cyprus' finance minister Vassos Shiarly said the country would also seek enough money to help with its budget deficit and the full amount would be decided over the course of weeks.

"The amount will be as much as it may be needed to cover the recapitalisation and fiscal requirements," he said.

"These will be established after careful review during the next few weeks."

Read more at ABC news online.

Topics:  bailout, contagion, cyrpus, eu, eurozone



Local Real Estate

Featured Real Estate
STEEL FRAME HOMES OWNER... STEEL FRAME HOMES OWNER BUILDERS Great deals to suite each Individual. Quality, ...
Parkland Precinct ... $295,000
House 3 2 2
Amazing Property ... $380,000
House 3 2 2
VACANT RESIDENTIAL... 60,000
Residential Land 0 0
DON'T MISS THIS... Auction
House 4 2 2

Featured Jobs

finda logo

Warwick jobs listed daily

Featured Jobs
SHORT ORDER COOK Warwick Casual
Senior Stockperson Clifton Full Time
EMPLOYMENT... St George Full Time
MC Drivers Wanted Warwick Casual
CLEANER Warwick Casual
Multiple Trades Crews... Toowoomba Contract
TWO POSITIONS VACANT... TWO POSITIONS VACANT Steele's Bakery Are seeking Counter Staff Experience and the ...


Local Partners

LATEST DEALS AND OFFERS

Job Listings

Search for your next job now.
Learn More

Baby of the Year...

Baby Competition 2014
Learn More

Cars For Sale

Find cars for sale online now.
Learn More

Property Listings

Search for a property online right now.
Learn More

Local Profile

Stay Connected

Get the news as it happens, in your inbox

You can change the newsletters you are subscribed to when you edit your profile

Edit Profile


Special Offers

Latest deals and offers

View today's ePaper!

Read the digital edition
Learn More

Horoscopes

Virgo

Your mental energies may be at an all-time high, but your physical levels could be well below par. Don't burn yourself out too soon. You...

read more

Marketplace

Special Offers & Promotions

Compare & Save