NEWS

'Russia prefers Cyprus out of the euro area'

Jorgo Hatzimarkakis, the German Euro deputy of Greek origin told Skai television on Sunday morning that Russia did not want Cyprus to stay in the eurozone.

“Cyprus’s alternative plan was only a half-plan that also relied on Moscow’s help. However Russia preferred a Cyprus outside the eurozone, but inside the European Union,” stated Hatzimarkakis.

Cypriot Finance Minister Michalis Sarris returned to Cyprus on Friday after his week-long effort to convince Russian authorities to lend some support to the Republic in the form of a new interstate loan, contribution to a bailout fund or even the extension of the 2.5-billion-euro loan from 2011, but to no avail.

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