BRUSSELS (MNI) – A bailout package for Cyprus will not be finalized
before mid-January next year, a spokesman for the European Commission
said on Tuesday, dashing hopes that a deal could be signed when Eurozone
finance ministers meet this Thursday.
Eurozone officials are waiting for a final version of an
independent report in to the Cypriot banking sector’s capital needs that
won’t be ready until the middle of next month, the spokesman explained.
Currently, only a preliminary assessment, prepared by bond fund
manager PIMCO, is ready, he said.
Cypriot finance minister Vassos Shiarly on December 4 said that his
government had enough cash to meet all its financial obligation for “the
next couple of months” – an assessment shared by the Commission.
–Brussels Newsroom, +324-952-28374; pkoh@mni-news.com
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