Cyprus asks EU for financial aid
It has become the fifth Eurozone state to have asked for help to save the country's economy.
The required sum is not mentioned in the document. According to information agencies, Cyprus needs at least 1.8 billion euro (about 10% of the country's GDP) by June 30. It will help recapitalize Cyprus Popular Bank - the country's second largest bank that has suffered losses due to the crisis in Greece.
Let us remind you that Greece, Ireland, Portugal and Spain asked the EU for financial aid earlier.
