Europe finance ministers in talks on Cyprus bailout
APBRUSSELS -- European finance ministers are gathering to discuss a long-delayed bailout for Cyprus amid demands from creditor nations that the island nation commit to privatizations and greater transparency in its financial sector.
March 5, 2013, 12:35 am TWN
France's Pierre Moscovici said ahead of the meeting of the 17-nation eurozone's finance ministers Monday the talks will specifically include the issue of anti-money-laundering policies and their implementation.
Germany and others have raised concerns that Cyprus' banks facilitate money-laundering and tax evasion, asking that any bailout must come with tough oversight.
Cyprus, which rejects the allegations, is seeking a bailout of up to 17 billion euros (US$22 billion).