Friday, January 11, 2013

EU's Rehn rules out debt "haircut" for Cyprus

The European Union's top economic official Olli Rehn was quoted on Friday as ruling out a debt restructuring for euro zone member Cyprus, currently in talks with the EU and the IMF on a financial rescue package.

"A haircut is not an option for us," Rehn, the European Economic and Monetary Affairs Commissioner, told the German business daily Handelsblatt in an interview.