News Headline Summary

Cyprus may be days away from a default according to Finance Minister

Analysis details (17:22)

- Cyprus' government needs to borrow funds from state-controlled agencies to avoid going into selective default in the next 2-3 days, according to ANA.
- Union groups at Cyprus Telecommunications Authority and Electricity Authority of Cyprus oppose issuing the loans.
- The first tranche of aid for Cyprus is expected from the end of March/early April.

17 Dec 2012 - 17:18 - Economic Commentary - Source: Newswires

Subscribe Now to RANsquawk

Click here for a 1 week free trial

RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: