Friday, August 29, 2014


Cyprus Takes Over EU Presidency

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Cyprus To Ask For Bailout

Eurozone member Cyprus says it intends to apply for a bailout package from its partners in the European currency union.
Cyprus has taken over the rotating presidency of the European Union while negotiating emergency aid from Brussels.

Earlier this week, the country became the fifth eurozone member to seek an international bailout, blaming its economic troubles on neighbor Greece's woes.

Officials from the European Commission, the International Monetary Fund, and the European Central Bank are expected to arrive in Nicosia on July 2 to evaluate the situation of the banking system and any other fiscal requirement the government needs.

Based on reporting by dpa
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