Cyprus bailout talks set to start in Brussels

President Nicos Anastasiades has already held successive meetings with European leaders and officials on the sidelines of the European Council, in Brussels, ahead of the Eurogroup meeting.

FAMAGUSTA GAZETTE

TALKS ON a bailout for Cyprus will start later at the EU in Brussels.

Prime Minister of Luxembourg Jean Claude Juncker has said that, not only must progress be made, but a solution must be found for Cyprus at the Eurogroup meeting.

Nicosia is pushing for the European Union and International Monetary Fund to sanction a bailout worth up to 17bn euros.

Preseident of the European Parliament Martin Schultz said that Cyprus deserves the same treatment by its partners as other countries.

"The position of the EP is absolutely clear. Cyprus deserves the same treatment in the frame of the problems that the country is facing as other countries in the Eurozone and in the EU, this is the position of the overwhelming majority of Members of the EP and whatever we can do to support the country to overcome the problems, the EP will contribute too.”

The island has already accepted a condition set by international lenders for a money laundering audit following German accusations that Cyprus is a haven for Russian money launderers and tax evaders.

Nicosia has repeatedly rejected allegations that Cypriot banks engage in money-laundering activities and said it has "nothing to hide" ahead of the independent audit, which should be completed by the end of the month.

President Nicos Anastasiades has already held successive meetings with European leaders and officials on the sidelines of the European Council, in Brussels, ahead of the Eurogroup meeting.

Anastasiades met with European Council President Herman Van Rompuy and German Chancellor Angela Merkel.

We are looking for a fair not privileged treatment,” Anastasiades, said before the European Council meeting, in Brussels.

“I have undertaken the post (of the President of Cyprus) 15 days ago and I immediately got into negotiations with Troika representatives and we are looking forward to finding the best and most fair agreement,” he told the press.

Cyprus Radio has also reported that Russia might help finance the bailout by extending a 2.5bn-euro loan already made to Nicosia. It has been reported that Cypriot Finance Minister Michael Sarris will travel to Moscow for meetings next week.
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