Germany Eases Demands on Cyprus Aid, Merkel Ally Says
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Cyprus will only be eligible for an international bailout if it exhausts all other sources of financial aid, a close party ally of German Chancellor Angela Merkel said.
“There is a clear, agreed sequence of events for aid,” Michael Meister, deputy parliamentary floor leader of Merkel’s Christian Democratic Union party, said in an e-mail from Berlin. “The first issue with any coordinated aid to Cyprus is systemic relevance to the euro zone. Cyprus has to make a case for this before we roll out other questions.”