The Central Bank of Cyprus Expresses Needs for a Bailout Before Year End

“NICOSIA, Cyprus (AP) — Cyprus’ Central Bank chief says “it’s very important” to sign a bailout agreement with potential creditors by next month in order to calm jittery investors.

Panicos Demetriades says investment firm PIMCO and auditors Deloitte will come up with a preliminary figure toward the end of this month, or early December, on how much money the country’s ailing banks will need to recover from their huge exposure to Greece.”

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