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Eurogroup's Juncker: Cyprus bailout unlikely to be agreed in January
January 10, 2013 / 12:06 PM / 5 years ago

Eurogroup's Juncker: Cyprus bailout unlikely to be agreed in January

BRUSSELS, Jan 10 (Reuters) - A financial bailout for Cyprus is unlikely to be agreed before the end of January, the president of the Eurogroup said on Thursday.

“I don’t think we will be in a position to find a solution during January. It will take longer,” said Jean-Claude Juncker, who chairs meetings of euro zone finance ministers. He was speaking to reporters at the European Parliament.

Last June, the island became the fourth euro zone state to ask for a financial rescue from its euro zone partners and the International Monetary Fund after its banks suffered losses on Greek debt holdings.

But aid talks have been complicated by concerns over debt sustainability because of the size of the potential bailout. (Reporting by Robin Emmott; writing by John O‘Donnell; Editing by Rex Merrifield)

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