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Cyprus has enough funds until May, says Finance Minister
27-02-2013 14:31
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Vasos Shiarly, the Finance Minister of Cyprus, has said that the country has enough funds to cover its obligations while it hammers out a bailout agreement estimated to be valued at 17bn euros.
"Based on the data before us, fiscal issues can be managed without a problem until May, because we always work three months ahead," said Shiarly.
Cyprus is currently negotiating with the 'Troika' (which represents the European Commission, International Monetary Fund, and European Central Bank) in order to establish the conditions for a financial package.
According to European officials, a final decision is expected by late March.
Shiarly will be replaced by Micharl Sarris when the new centre-right government takes over on February 28th.
JM
"Based on the data before us, fiscal issues can be managed without a problem until May, because we always work three months ahead," said Shiarly.
Cyprus is currently negotiating with the 'Troika' (which represents the European Commission, International Monetary Fund, and European Central Bank) in order to establish the conditions for a financial package.
According to European officials, a final decision is expected by late March.
Shiarly will be replaced by Micharl Sarris when the new centre-right government takes over on February 28th.
JM
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