Cyprus Gets First Aid Tranche as Greece Cash Backed
This article is for subscribers only.
Cyprus received its first emergency aid payment and Greece won approval of 7.5 billion euros ($9.7 billion) of rescue loans.
Cyprus received 2 billion euros today and will get as much as 1 billion euros more in June as the Mediterranean island’s 10 billion-euro aid package was activated, the European Stability Mechanism, the euro area’s permanent backstop fund, said in a statement.