Now Cyprus May Need Bailout from Eurozone

IBTimes Friday 18th November, 2011

The tiny island nation of Cyprus may require a bailout from the Eurozone unless the government quickly enacts significant tax hikes and spending cuts, warned finance minister Kikis Kazamias. According to media reports, Kazamias wants to freeze the salaries of public sector workers for two years, in an effort to save 355 million euros ($479 million...

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