Skip to content
Subscriber Only

Draghi Says Any Cyprus Gold Sale Must Cover Emergency-Loan Loss

European Central Bank President Mario Draghi said the profits of any gold sales by the Cypriot central bank must be used to cover losses it may sustain from emergency loans to Cypriot commercial banks.

European creditors today left a possible gold sale in the hands of the Cypriot central bank, which manages 13.9 metric tons of the metal, according to the World Gold Council.