Euro zone to bail out Cyprus - no details on how
Source: Reuters
(Reuters) - Euro zone finance ministers pledged on Monday to agree a bailout for Cyprus by the end of March, but details of how the rescue will be financed are yet to be sorted out.
Cyprus requested a bailout in June last year but it was not possible to reach an agreement with the last, communist-led government. A new, conservative government took office last month and negotiations have intensified.
The troika of European Union, International Monetary Fund and the European Central Bank would send a mission of experts to Cyprus on Tuesday for a technical analysis of the country's financing needs and to get a better understanding of the new Cypriot government, ECB board member Joerg Asmussen said.
Read more: http://uk.reuters.com/article/2013/03/04/uk-eurogroup-cyprus-idUKBRE9230XR20130304
