Select a language
Eurozone finance ministers have decided to draft a bailout plan for Cyprus before the end of March. However, Nicosia will first have to cooperate with an audit on money laundering.
At the Eurogroup meeting on March 4, Germany, backed by Austria and the Netherlands, insisted that the new Cypriot government “submit to an independent evaluation of the drive to combat money laundering in Cypriot financial institutions." The examination is set to begin on March 12.
In exchange, an EU-ECB-IMF delegation will shortly visit the island to evaluate the measures required for a bailout.
Was this article useful? If so we are delighted!
It is freely available because we believe that the right to free and independent information is essential for democracy. But this right is not guaranteed forever, and independence comes at a cost. We need your support in order to continue publishing independent, multilingual news for all Europeans.
Discover our subscription offers and their exclusive benefits and become a member of our community now!
