Cyprus Aims for 11.5 Bln Euro Bailout Package

NICOSIA, Cyprus (AP) — Officials say Cyprus is aiming to get a eurozone bailout of about €11.5 billion ($14.9 billion) to recapitalize its troubled banks and meet short-term fiscal needs. Finance Minister Vassos Shiarly says the country needs around €4 billion to cover expenses until 2016. But he refuses to say how much Greece-exposed banks would need, only that government estimates differ greatly from those of the so-called troika — the European Commission, the European Central Bank and the International Monetary Fund. Two officials told the AP Thursday — on condition of anonymity because negotiations are ongoing — that the finance ministry puts banks'...

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