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First EU Bail-Out Funds for Cyprus in Mid-May

Published: April 17, 2013; 18:01 · (Vindobona)

The € 10bn worth bail-out package for Cyprus will become effective in the next few weeks, according to the Irish EU Presidency.

First EU Bail-Out Funds for Cyprus in Mid-May / Picture: © Vindobona.org

Starting from mid-May, the first shares will be paid, Irish Minister for Foreign and European Affairs Lucinda Creighton announced. In order to steer the country back onto the right course, Creighton presses for a fast establishing of the planned EU bank union. The resolution fund for underperforming banking institutes and the deposit guarantee are, according to her, necessary to…

This article includes a total of 118 words.

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