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Cypriot finance minister Michael Sarris (Photo: consilium.europa.eu)

Cyprus MPs pass bank laws, start bailout talks

Cyprus edged back from the brink of bankruptcy on Friday (22 March) after MPs agreed to a series of emergency reforms in a bid to avoid financial meltdown and a traumatic exit from the euro.

Facing a Monday deadline (25 March) to agree on a rescue package before the European Central Bank withdraws its emergency lending programme from Cypriot banks, MPs adopted legislation to restructure the country's fragile banking sector by giving the government the power to split up institutions into...

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

Cypriot finance minister Michael Sarris (Photo: consilium.europa.eu)

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

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