Cyprus Problem | South Sets Strict Terms for Accepting Bailout

Cyprus Problem | South Sets Strict Terms for Accepting BailoutCyprus Problem | South Sets Strict Terms for Accepting Bailout

According to the Financial Times, the south’s Finance Minister will not be accepting EU and IMF money to save the economy from collapse unless it is made clear that investors in the south’s banks will be protected from the fallout of making bad investments, ‘sweeping’ privatisation is not demanded in order to afford the payments or that an outside audit of money laundering is asked for in order to see if the banks that need the money are acting criminally. If these terms are not met then…

Reminds me of when Greece was also in trouble back in 2010, the EU and its partners let it have the money and then in 2012 Greece liked the deal so much they asked for more.

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