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Eurozone approves bailout for Greek Cypriots

European Stability Mechanism decided to pay €100 million to the Greek Cypriot administration.

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Eurozone approves bailout for Greek Cypriots

Eurozone Economy Ministers approved on Monday the new bailout for the Greek Cypriot administration. In a statement released following the meeting of Eurozone economy ministers, it has been decided that the Eurozone bailout fund of European Stability Mechanism would pay a further 100 million euros to the Greek Cypriot administration. The IMF is also expected to release a 86 million euros of bailout for the Greek Cypriot administration.

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