"We are out of the danger zone," Georgiadis told the German daily Handelsblatt in a recent interview. In the past year, Cyprus "has come a long way and made enormous progress". The European Union, the European Central Bank and the International Monetary Fund rescued Cyprus with a €10 billion aid package that was agreed on March 16 of last year. Cyprus is expected to pay back the funds by 2016.
Source: Market News
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