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Cyprus asks for bailout from the eurozone

The Cypriot government confirmed the news this evening, citing the country’s exposure to the Greek economy.

CYPRUS HAS CONFIRMED that it intends to ask the European Union for a financial bailout.

In a statement this evening, the Cypriot government said it needs assistance to help stem the fallout effect of the Greece crisis on its banks. Cyprus was heavily exposed to the Greek economy and has been badly hit by the economic turmoil in Greece.

Cyprus has not released details on exactly how much money it will be asking for from the European Union.

“The government of the Republic of Cyprus has today informed the appropriate European authorities of its decision to submit to euro area member states a request for financial assistance,” the statement said.

The country’s credit rating was cut to junk status by ratings agency Fitch earlier today, less than two weeks after Moody’s also downgraded the country’s rating.

Cyprus joins Ireland, Greece and Portugal as the latest country to request a bailout loan. Earlier today, Spain confirmed that it has requested aid of up to €100 billion for its banks.

Moody’s drives Cyprus towards junk status with two-notch downgrade >

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58 Comments
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    Mute John003
    Favourite John003
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    Jan 30th 2018, 5:08 PM

    Nice to live long but only in good health…..People are living now typically into their 90′s but often the last decade is in bad heath and house bound….

    138
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    Mute Niccolo Saccho
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    Jan 30th 2018, 6:09 PM

    @John003:
    Bad diet and too much alcohol.
    No moderation in things anymore.

    25
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    Mute kevinhunt101
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    Jan 30th 2018, 6:20 PM

    @Niccolo Saccho: or just dementia quite often. Most older people have eaten quite healthy as the range of crap around today simply didn’t exist back when they were younger. Convenience food etc didn’t exist. You just eat your meat veg and potatoes

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    Mute Jim
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    Jan 30th 2018, 6:38 PM

    Isn’t it crazy to think that the entire world’s population has been replaced since he was born. Imagine knowing that there isn’t a single person still living on this planet, who was around when you were born.
    And as for the experiences he has had, the things he has lived through, and seen from 1900s til now. What a guy! RIP.

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    Mute Philip Mckenna
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    Jan 30th 2018, 5:36 PM

    Apparently his mother and father are heartbroken.

    70
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    Mute The Dublinist
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    Jan 30th 2018, 4:50 PM

    If only we could all live that long…..

    45
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    Mute Gillian Scully
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    Jan 30th 2018, 5:01 PM

    @The Dublinist: Only if you are fit and have your own mind. Dreadful otherwise.

    123
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    Mute Peadar Ó Gréacháin
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    Jan 30th 2018, 5:05 PM

    @The Dublinist: I don’t think I could handle your comments for that length of time…..

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    Mute The Dublinist
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    Jan 30th 2018, 5:47 PM

    @Peadar Ó Gréacháin: Thanks very much.

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    Mute marg fitzgerald
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    Jan 30th 2018, 6:53 PM

    @The Dublinist: the government wouldn’t want the pension bill

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    Mute Maggie O'Connor
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    Jan 30th 2018, 5:14 PM

    He had a good innings all the same.. (never understood that comment)

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    Mute Paul J. Redmond
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    Jan 30th 2018, 8:07 PM

    @Maggie O’Connor: Cricket!!

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    Mute Paul J. Redmond
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    Jan 30th 2018, 8:07 PM

    @Maggie O’Connor: Still cricket…

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    Mute Fabio Dillon
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    Jan 30th 2018, 6:24 PM

    The Spanish would do anything for a day off. The most work shy Western Europeans.

    21
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    Mute Daffy the Bear
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    Jan 30th 2018, 7:08 PM

    @Fabio Dillon: and the longest living; there may be something in that too..

    39
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    Mute John's Voyage
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    Jan 30th 2018, 7:29 PM

    @Fabio Dillon: Only fools and horses work.

    17
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    Mute Philip Farrelly
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    Jan 30th 2018, 4:52 PM

    Man not well

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    Mute Maggie O'Connor
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    Jan 30th 2018, 5:15 PM

    @Philip Farrelly: he’s not not well he’s dead.

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    Mute mark kelly
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    Jan 30th 2018, 5:54 PM

    Now that was witty Phil..

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    Mute Pauliebhoy
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    Jan 30th 2018, 6:19 PM

    Was it Billy Connolly who said something along the lines of, “They say jogging every day adds an extra 10 years to your life, what they don’t say is the extra 10 years come when you’re stuck in a bed and pi**ing yourself”?

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    Mute Tony Hickey
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    Jan 30th 2018, 9:07 PM

    Every oldest person must be cursed with bad luck – they never hold the title for long

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    Mute Billy Walsh
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    Jan 30th 2018, 7:33 PM

    Was his passing sudden?

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