Cypriot leaders are meeting again Friday in another attempt to raise $7.5 billion by Monday, which is the deadline set by the European Union as a condition for extending a bailout package to the indebted island.

The European Union, The European Central Bank and the International Monetary Fund have agreed to give Cyprus a $13 billion bailout to save it from defaulting on its debt. But they want the government to secure the rest of the funds needed to support Cyprus’s failing banks.

After … [Read More]

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Source: VOA News: Economy and Finance