Vladimír Urbánek (Kurzy.cz)
Markets  |  April 12, 2013 11:09:08

Cyprus needs about 6 mld.EUR more than previously estimated. Its share will grow by 100%


The Cypriot government announced yesterday that to save the country would need a total of 23 mld.EUR about 6 billion more than previously estimated. To avoid bankruptcy, the island country of the Union must increase its contribution to twice their original plan. Additional Resources Cyprus intends to obtain from its own resources restructuring and recapitalization of the banking system. In this way, the Government intends to acquire up to 10.6 mld.EUR, the rest to the required 13 mld.EUR should be obtained from the release of the gold reserves and higher income from taxation and privatization of state enterprises.

The German government Christian Democrats had threatened that if Cyprus does not find additional resources from the own resources will not support the already agreed-upon international assistance. ESM should provide 10 mld.EUR Cyprus, the next one should add mld.EUR IMF. The release of funds now have to start acting finance ministers of EU countries.Next week is then Pomos approve the German parliament.
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Kypr potřebuje o 6 mld.EUR více, než se doposud odhadovalo. Jeho podíl poroste o 100%

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