News Headline Summary

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

Analysis details (16:22)

- 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 - 16:18 - Economic Commentary - Source: Newswires

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