The headline in the Wall Street Journal is a little more genteel than mine, but same/same:
Cyprus Asks Creditors to Help Biggest Bank
- Cyprus has asked its European partners to help ease a cash crunch at Bank of Cyprus
- Cyprus President Nicos Anastasiades requested further help in a letter sent to European leaders, which said, in part:
“The success of the program approved by the Eurogroup and the troika depends upon the emergence of a strong and viable Bank of Cyprus. It is for this reason that I urge you to support a long-term solution to Bank of Cyprus’s thin liquidity position.”
There is a Eurogroup meeting on Thursday – its expected the issue will be discussed there
(The Wall Street Journal is often gated, so if you’re unable to access the article try a search of Google news using the headline)
