Economy

Cyprus Parliament Passes Financial Measures, Future Uncertaini
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March 23, 2013
After last-minute talks Friday, Cyprus lawmakers passed measures required by the European Union to secure a bank bailout. Finance ministers from the 17-nation eurozone still have to meet on Sunday to discuss the details. The country's 56-member parliament had until Monday to find ways to raise $7.5 billion or risk losing billions of dollars in emergency funding from the European Central Bank. Mil Arcega reports for VOA that support from the European partners of Cyprus is needed to avoid a bleak financial future for the nation.

Cyprus Parliament Passes Financial Measures, Future Uncertain

Published March 23, 2013

After last-minute talks Friday, Cyprus lawmakers passed measures required by the European Union to secure a bank bailout. Finance ministers from the 17-nation eurozone still have to meet on Sunday to discuss the details. The country's 56-member parliament had until Monday to find ways to raise $7.5 billion or risk losing billions of dollars in emergency funding from the European Central Bank. Mil Arcega reports for VOA that support from the European partners of Cyprus is needed to avoid a bleak financial future for the nation.


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