LIMASSOL, Cyprus (AP) — German Chancellor Angela Merkel says Cyprus must move ahead with economic reforms so it can garner support for a rescue package that it's trying to finalize with international creditors.

As she arrived for a European conservative parties' conference in Cyprus, Merkel said Friday that the country needed to embrace reforms if it hoped to get any bailout.

Cyprus has already enacted public sector pay cuts and tax rises as part of a draft bailout deal it has negotiated with the European Commission, the European Central Bank and the International Monetary Fund. It is resisting calls for privatizations, however.

Cypriot banks took huge losses on bad Greek debt and loans and their rescue needs are still being calculated. The estimate will affect the size and terms of Cyprus' bailout deal.

About News.net

Publishing Services International Limited (PSIL) is the publisher and operator of a worldwide network of online news sites dedicated to delivering fair, accurate and relevant reporting from a variety of the world’s most trusted sources – from the biggest cities to the smallest towns.

We deliver positive and powerful messages to our readers, providing up‑to‑the‑second news that matters to the individual.

Our promise is to serve communities and individuals worldwide, delivering information that hasn’t always been available to them. We will give them back a voice – a voice that’s empowering because it is theirs – and provide a platform to communicate between themselves and the world.

We believe people are not just generic demographics; they are individuals with their own preferences and curiosities. We are about understanding these individuals, listening to them, and serving them.

We are the new pioneering spirit of news – we’re not talking to everyone, we’re talking with every one.

If you want your news, your voice, your way, on your time – we’ve got news for you.

 

FAQs

Email

If you have any questions or concerns please email us on support@news.net

Phone

  • Australia, Toll Free 1-800-983-421
  • Hong Kong, Toll Free 800-906-187
  • Singapore, Toll Free 800-852-3871
  • USA/Canada, Toll Free 1-800-830-4132

Advertise With Us

Interested in being awesome?
Contact us by email or phone.

Cancel