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Cyprus banks: what really goes on behind closed doors? (Photo: Berge Gazen)

Cyprus bank accuses troika of misleading EU ministers

The Cypriot central bank has said eurozone finance ministers were misled by a critical report on money laundering on the island.

The report in question is a four-page summary of a longer study written by Moneyval, a unit of the Strasbourg-based Council of Europe, and Deloitte, a US accountancy firm.

The summary was drafted on behalf of the "troika" - the European Central Bank, the European Commission and the International Monetary Fund - and circulated to ministers on 14 May.

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Author Bio

Andrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.

Cyprus banks: what really goes on behind closed doors? (Photo: Berge Gazen)

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Author Bio

Andrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.

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