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Rehn's remarks give the lie to Cypriot claims that money laundering is a non-issue (Photo: ec.europa.eu)

Rehn: Cyprus must act on money laundering

EU financial affairs commissioner Olli Rehn has joined calls for Cyprus to stop bank fraud if it wants EU help.

Speaking in German daily Handelsblatt on Friday (11 January), he said Cyprus has adopted international rules on anti-money-laundering "[but] these laws actually have to be applied. I am aware of the problems."

He noted that Peer Steinbruck - the German centre-left SPD party's candidate in autumn elections - told him "personally" on Tuesday he will oppose the bailout unl...

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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.

Rehn's remarks give the lie to Cypriot claims that money laundering is a non-issue (Photo: ec.europa.eu)

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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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