Local
articles | 26 March 2014

Cyprus out of danger, says Finance Minister

The Finance Minister says the country had made progress in paying back its debt one year on from its €10 billion bailout.

"We are out of the danger zone," Georgiadis told the German daily Handelsblatt in a recent interview. In the past year, Cyprus "has come a long way and made enormous progress". The European Union, the European Central Bank and the International Monetary Fund rescued Cyprus with a €10 billion aid package that was agreed on March 16 of last year. Cyprus is expected to pay back the funds by 2016.

Source: Market News

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