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EU council chief Van Rompuy (r) greets Cypriot President Christofias (Photo: consilium.europa.eu)

Cyprus becomes fifth eurozone country to seek bailout

Cyprus on Monday (25 June) became the fifth euro country to ask for help from the zone's bailout funds, hours after Spain formalised its request for a bank rescue.

"I welcome the formal application for financial assistance that I have received today from the Cypriot authorities," Eurogroup chief Jean-Claude Juncker said in a statement, adding that the eurozone finance ministers he presides over will respond "swiftly."

A "necessary policy conditionality" accompanying the bailout ...

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EU council chief Van Rompuy (r) greets Cypriot President Christofias (Photo: consilium.europa.eu)

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