Cyprus faces the choice of asking for a bailout from its European partners in the euro or from Russia, and will decide where to turn after this weekend’s crucial elections in Greece, officials say. Government spokesman Stefanos Stefanou wouldn’t name the country where a possible loan could come from. But an official, speaking on condition of anonymity because of the sensitivity of the matter, identified it as Russia. Mr Stefanou said Cyprus is looking at both options in order to have “flexibility to deal with the issue”. “We have these options in front of us, we’re looking in the direction of a bilateral loan as well as toward the European Union support mechanism,” he told AP.Full Article: Cyprus weighs its post-Greek election bailout options | News | Business Spectator.
Jun 16 2012