Cyprus needs a Greek haircut

Yet more sad tidings coming in via the internet and this time it concerns the so-called agreement between Cyprus and Troika for a bailout.

Reading the EU Observer article it seems that the IMF and its European partners are far from happy at the prospect of giving the loan without some very tough measures being taken and as a result of this the loan could not be forthcoming until sometime in the New Year.

Please read the following report from EU Observer.

From EU Observer

EUobserver.com / Economic Affairs / Cyprus bailout delayed amid debt restructuring reports.

By Chris Elliott