NICOSIA — Cyprus's finance minister isn't ruling out privatizations to seal a bailout deal and make a debt as high as 17.5 billion euros sustainable, he said Friday.
Vassos Shiarly said that the island had formally requested a five-year extension from Russia to repay a 2.5 billion euro ($3.3 billion) loan due in 2016 and that a writedown of Greek debt implemented in early 2012 was a mistake.
Cyprus, one of the eurozone's smallest economies, applied for financial aid from the European Union and the International Monetary Fund in June. Its banks were badly burned by an EU-sanctioned writedown of Greek sovereign debt held by private investors.
"The Greek [debt writedown] was a gift to Greece," Shiarly said.
Gazprom is prepared to pay 1.9 billion euros for Greek natural gas company DEPA, RIA-Novosti reported, citing Greek business daily Imerisia. The deal, which might give Gazprom control over the Greek gas market, is causing concerns in the U.S., Imerisia reported.
Related articles:
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
