sailingaway
03-21-2013, 04:46 PM
Cyprus will be excluded from the eurozone if its government fails to take measures aimed at saving the country’s banking system, a highly placed EU source said in Brussels on Thursday.
The source added that to avoid being expelled from the eurozone, the Cyprus government should present a new “reliable and viable” bailout plan, establish long-term control over bank deposits and contribute to merging the two largest Cypriot banks that are currently on the verge of default.
The source said that these tasks should be implemented by next Tuesday.
http://english.ruvr.ru/2013_03_21/EU-says-Cyprus-may-be-excluded-from-eurozone/
The source added that to avoid being expelled from the eurozone, the Cyprus government should present a new “reliable and viable” bailout plan, establish long-term control over bank deposits and contribute to merging the two largest Cypriot banks that are currently on the verge of default.
The source said that these tasks should be implemented by next Tuesday.
http://english.ruvr.ru/2013_03_21/EU-says-Cyprus-may-be-excluded-from-eurozone/