Cyprus bank creditors must share burden - German finance minister


ATHENS (Reuters) - The euro zone stands ready to help bail out Cyprus but the burden must be shared by its banks, otherwise the island's economy will collapse under its public debt, Germany's Finance Minister told a Greek newspaper on Friday.

"The perception that this (Cyprus) problem can be solved only by taxpayers in the euro zone without the participation of major creditors of Cypriot banks cannot be accepted by Europe's citizens," Wolfgang Schaeuble told daily Ta Nea in an interview.

Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In World

Chinese, French scholars hold cross-cultural talks in Paris
Zambian gov't highlights importance of hand hygiene in reducing infections
Dairy worker bird flu case shows need for protective gear, US CDC study shows
Well-preserved Ming Dynasty tomb discovered in N China's Shanxi
South China to experience above average rainfall in May 2024
Rains in southern Brazil kill at least 31, more than 70 still missing
Panama top court deems presidential frontrunner's candidacy constitutional
Georgian PM calls U.S. criticism of draft 'foreign agents' law false
Boeing sending first astronaut crew to space after years of delay
Former Trump aide Hope Hicks testifies 'Access Hollywood' tape roiled campaign

Others Also Read