Cyprus Becomes 5th E.U. Member to Seek Rescue

  •   The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

DAN BILEFSKY
nytimes.com
June 25, 2012

Cyprus on Monday said it was formally requesting a bailout from the European Union in a bid to bolster its struggling banks, making it the fifth euro zone country to request a rescue.

The announcement came after weeks of concern that the crisis in Greece and a potential Greek exit from the euro could bring down the economy in the small island nation, whose banks are heavily exposed to Greece.

The slim victory of a pro-euro party in recent Greek elections helped to temporarily alleviate that concern, even as economists said Cyprus could need as much as €10 billion, or $12.5 billion, to shore up its ailing banks and cash-strapped public sector.

Read more

This article was posted: Monday, June 25, 2012 at 2:23 pm

Tags: , ,







Infowars.com Videos:

Comment on this article

Comments are closed.


Watch the News

FEATURED VIDEOS
BLM & Harry Reid's War on Ranchers See the rest on the Alex Jones YouTube channel.

Green Police: The New Tyranny See the rest on the Alex Jones YouTube channel.

© 2013 Infowars.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.