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>> EUROPEAN CENTRAL BANK Latest News

APR 11, 2013 - Time

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Cyprus Bailout Swells to $30 Billion

(BRUSSELS) — The cost of bailing out Cyprus has swollen to euro 23 billion ($30 billion), with the crisis-hit country having to take on the lion’s share of the measures needed to avoid bankruptcy, according to a draft document by the country’s international creditors. The draft document, obtained by The Associated Press Thursday, says the country will have to find 13 billion euros ($17 billion) — an increase on the 7 billion euro contribution agreed during the country’s chaotic bailout talks last month. The money will be raised by imposing heavy losses on large bank ... Read More

Tags: Cyprus Bailout Swells to $30 Billion,  European Central Bank Latest News