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Saturday 24 March 2018

Cypriot govt proposes "Solidarity Fund" to parliament

The Cypriot government proposed to parliament the creation of a "Solidarity Fund" based on revenues from hydrocarbon exploitation, bonds and other assets to help it raise billions of euros to clinch an EU bailout.

The bil did not specify how much the state hopes to gain from the fund. Parliament was due to debate a number of bills this evening, including one that would impose capital controls on banks.


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