Deals
Cyprus Struggles to Meet Bailout Demand as Deadline Looms
This article is for subscribers only.
European and Cypriot officials were locked in talks to find a formula to avert the Mediterranean island’s financial collapse, struggling to forge consensus on a bailout package before the European Central Bank cuts funding.
Cyprus’s options narrowed today after Russia spurned a bid for a loan and German lawmakers dismissed the Cypriot government’s latest rescue proposals. That left the troika of international creditors to hammer out fresh terms with President Nicos Anastasiades’s coalition focusing on the fate of Cyprus’s ailing banks.