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Cyprus Seeks 5 Bln Euros More Aid From Russia
RIA – The Cypriot authorities have asked Russia for another 5 billion euros in loans, The Daily Telegraph reported on Wednesday, citing Cyprus-based Alithia newspaper. Last year, Russia agreed to grant 2.5 billion euros in loans to Cyprus, which amounts to about 10 percent of the republic’s GDP. Cyprus needs funds to recapitalize local banks which are under stress due to the eurozone debt crisis. Read article
Tags: 2nd Great Depression, banks, debt wealth, Europe, politics, Russia former states
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