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Vassos Shiarly (c)- 'If you ask me whether this was a fair way to deal with it, I dare say No' (Photo: consilum.europa.eu)

EU handling of Greece forced Cyprus bailout, minister says

Cyprus has lashed out that short-sighted and German-led thinking by negotiators of Greece's bailout deal has forced the Mediterranean island into asking for euro aid that it would otherwise not have needed.

"Effectively because of our close proximity (to Greece) we were called upon to pay a very heavy price because of our financial connection," finance minister Vassos Shiarly said Friday (6 July).

Cyprus' major complaint that holders of Greek bonds take a loss on their investment ...

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Vassos Shiarly (c)- 'If you ask me whether this was a fair way to deal with it, I dare say No' (Photo: consilum.europa.eu)

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