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Cyprus ruins - will EU taxpayers' money be used to make sure Russian money-launderers do not lose their cash? (Photo: jnocca93)

Cyprus expects EU bailout deal in next 10 days

With Greece (twice), Ireland , Portugal and Spain (its banks) already on the list, Cyprus expects to clinch an EU bailout of up to €15 billion next week.

Negotiations on details of the rescue start in Nicosia on Friday (9 November).

A "troika" of international lenders - the European Commission, the European Central Bank (ECB) and the International Monetary Fund (IMF), led by commission official Maarten Verway - landed in the Cypriot capital on Thursday.

A Nicosia-based Cy...

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Author Bio

Andrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.

Cyprus ruins - will EU taxpayers' money be used to make sure Russian money-launderers do not lose their cash? (Photo: jnocca93)

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Author Bio

Andrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.

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