French Finance Minister EU Cannot Lend Cyprus more than 10 billion

The euro zone cannot lend more to Cyprus than the 10 billion euro ($13 billion) bailout it agreed at the weekend, French Finance Minister Pierre Moscovici said on Tuesday.
“Above 10 billion euros we are entering into a size of debt that is not sustainable,” Moscovici told reporters.
Cyprus’s parliament is due to vote on Tuesday on a controversial bank deposit tax that is part of the aid package, although a government official said earlier that lawmakers were likely to reject the bill.
The spokesman also said Cyprus President Nicos Anastasiades asked the EU for more aid during a Monday evening conversation with German Chancellor Angela Merkel and EU economics affairs commissioner Olli Rehn.

via Yahoo

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