Schaeuble says bailout deal best possible solution for Cyprus

BERLIN (Reuters) - Cyprus faces a long, difficult path to rebuild its economy but a European bailout deal struck in the early morning hours of Monday offers the country the best chance of getting back on its feet, German Finance Minister Wolfgang Schaeuble said.

At a news conference in Berlin on Monday, Schaeuble said the agreement was "much better" from Germany's perspective than a deal struck last week which would have hit small depositors and was rejected by the Cypriot parliament.