FINANCE MINISTER Vassos Shiarly has said the amount Cyprus needs in any bailout deal amounts to 17.5 billion.

However, with Troika talks still having not been concluded the final bailout figure will only be known after Pimco bank report.

Officials from the European Union, European Central Bank and International Monetary Fund had been in Nicosia for the past two-weeks.

After Troikas departure from Cyprus last night, negotiations via tele-conferencing will take place with a view to achieve an agreement and decide on a return visit by the Troika to conclude the negotiations.

However, President Christofias announced this morning: “After tough negotiations with the troika… we are very close to signing a memorandum”.

Cyprus informed the appropriate European Authorities of its decision to submit to euro area Member States a request of financial assistance from the EFSF/ESM in June.

Published by: www.famagusta-gazette.com