German Finance Ministry spokeswoman Marianne Kothe said on Friday that there will not be a decision made regarding aid for Cyprus at a meeting of euro area finance ministers on Monday.
Kothe made her comments at a regular government press conference in Berlin. “There is an aid request from Cyprus and it is being looked at. First it must be verified that the preconditions are fulfilled. This is why we can’t say anything in advance about the results,” said Kothe.
“Cyprus is on the agenda and will be discussed. But there are no decisions to be taken,” she added. Kothe also said that Pimco’s report on the health of Cypriot banks will be sent to federal lawmakers in Berlin.
“All relevant documents will be sent to parliament,” the Finance Ministry spokeswoman said in regard to the report, which is expected to assess the Cypriot credit sector’s needs at about 10 billion euros.[Bloomberg]