Friday, January 11, 2013

Merkel says Cyprus aid talks to take time, German MPs uneasy

German Chancellor Angela Merkel said on Wednesday she expected talks on a bailout deal for Cyprus to take time, while a senior member of her coalition said parliament was not yet ready to approve any financial aid.

Cyprus, whose economic woes stem from its banks' heavy exposure to crisis-racked Greece, requested financial help from the European Union and the International Monetary Fund last June. It is not yet clear when the aid will be finalized.