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What is Cyprus Seeks Emergency Financial Plan about?

Cypriot politicians are scrambling to come up with a plan to raise the 5.8 billion euros needed for an EU/IMF aid package by Monday, when the ECB has said it will pull support for Cypriot banks if no deal is in place. Several proposals are being discussed, including establishing an investment fund or issuing bonds backed by future gas revenues. However, negotiations with Russia on extending a previous loan of 2.5 billion euros have not been successful. European leaders are cautiously monitoring the situatio

Author

naudaslietas_lv

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EN