News Headline Summary

Cyprus has asked for a 5-year extension of their loan from Russia, according to the Ministry of Finance

- Can meet financing needs to the end of March.
- Exploring options for April-May financing needs.
- Needs a bailout to avoid declaration of bankruptcy.
- Debt restructuring would be an ineffective approach.

Print 13:31, 10 Jan 2013 - Economic commentary - Source: Newswires