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19 Mar 2013
Forex Flash: EZ FinMins insist the Cypriot Gov need to raise EUR5.8bln - OCBC Bank
FXstreet.com (Barcelona) - OCBC Bank analysts note that in a statement by finance ministers in the Eurozone, the group continues to insist that the Cypriot government needs to raise EUR 5.8bn from bank depositors to unlock the emergency loans as part of their bailout.
Over in the US, The Treasury commented that they are watching the issue very closely and stressed the importance of Cyprus working together with its Eurozone partners. Elsewhere, the team notes that the Bundesbank shrugged off the slow start in 2013, commenting that an economic recovery is still expected this year and expects the German economy to grow 0.4% yoy, according to its December projections.
Over in the US, The Treasury commented that they are watching the issue very closely and stressed the importance of Cyprus working together with its Eurozone partners. Elsewhere, the team notes that the Bundesbank shrugged off the slow start in 2013, commenting that an economic recovery is still expected this year and expects the German economy to grow 0.4% yoy, according to its December projections.