The European Central Bank, the European Commission, and the International Monetary Fund find themselves at odds with another Eurozone country.
Portugal Struggles to Meet Troika Conditions
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The European Central Bank, the European Commission, and the International Monetary Fund find themselves at odds with another Eurozone country.
In June 2012, the Cypriot government requested a bailout after its two largest banks took massive losses—around 1.6 billion euros—on Greek government bond write-downs. In order to remain solvent, it was determined that Cyprus needed 17 billion euros in assistance. What Cypriots got was a government claim on their own private bank accounts.