Wed, Mar 06, 2013 - Page 15 News List

Eurozone pledges to bail out Cyprus

‘BAIL IN,’ BAIL OUT:Cyprus has agreed to review its money-laundering laws, consider privatizing state assets and restructure banks, with depositors paying part of the rescue

Reuters, BRUSSELS

A 17 billion euro rescue would increase Cyprus’ debts to about 145 percent of GDP, a level considered unsustainable. Greece’s bailout calls for it to cut its debt-to-GDP ratio to 120 percent by 2020, but that would be too high for Cyprus.

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