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Friday, November 9, 2012

Cyprus talks with lenders as debt sustainability in focus

Representatives of the ECB, IMF and the European Commission arrive at Cyprus' finance ministry, where the third round of bailout talks are being held, in NicosiaNICOSIA (Reuters) - Cyprus launched a last-ditch bid with potential lenders on Friday to get financial aid needed before coffers in the tiny euro zone economy start running dry. Battered by its exposure to debt-crippled Greece, Cyprus sought a full bailout from the EU and the IMF in June to buffer its banks and plug widening deficits after attempts to secure a credit line from Russia failed. The government has said it could have difficulties paying salaries in December. It is currently heavily reliant on short-term financing from domestic banks. ...



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