Cyprus Seeks EU Bailout Amid Worsening Economic Crisis

The country on Monday informed European authorities of its decision to submit to euro member states a request for financial assistance, according to a statement by the country’s European Union embassy in Brussels.

Government spokesman, Stefanos Stefanou, said the amount Cyprus would ask from the European bailout fund would be subject to negotiations in the coming days.

Cyprus is the fifth eurozone government to request bailout assistance from the EU's rescue funds .... http://www.presstv.ir