Cyprus face EU pressure to take bailout package

Source: Bloomberg
European officials are adding pressure on Cyprus to accept a full rescue package worth around EUR 10 billlion (USD 12.7 billion). In contrast Cyprus currently is interested in restricting any external help to its financial system. Cyprus also is in talks with Russia about possible loan. Cyprus does not want to accept bailout money since it will be required to fulfil the same austerity requirements which faced Portugal, Ireland and Greece. 
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Wed, 20 Jun 2012 06:51:00 GMT

Euro depreciates ahead of Spanish bond auction

The 17-nation currency weakened on Wednesday ahead of Spanish bill auction tomorrow as European officials keep struggling to tackle region's debt turmoil. Demand for Dollar was lower as investors awaited the results of Fed two day meeting which concludes today. Euro slipped 0.1% versus greenback to USD 1.2672. Currently EUR/USD is trading at 1.2675.

Wed, 20 Jun 2012 06:29:00 GMT

Greeks may come up with a new government today

Greece's political leaders today are entering the third day of talks about forming a coalition that would fulfil EU obligations and secure rescue funds for the indebted nation. The leader of Socialist Pasok party Venizelos expects the new government might be created today. Antonis Samaras is aiming to create a strong coalition with 179 seats of 300 merging three parties: New Democracy

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