News Headline Summary

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

Update details:

- 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.

Print 16:19, 17 Dec 2012 - Economic commentary - Source: Newswires