Cypriot leaders to discuss options for reviving economy June 25, 2012 - 16:55 AMT PanARMENIAN.Net - Cyprus' leaders will discuss on Tuesday, June 26 options for reviving an economy on the verge of succumbing to a bailout, with a debate raging on whether the country should seek aid from the EU's rescue fund or look further afield, Reuters reported. Political leaders would meet on Tuesday afternoon, a press release from the presidency said, shortly after ratings agency Fitch cut the island's sovereign debt to non-investment grade. Heavily exposed to the crisis in Greece, cash-starved Cyprus needs to recapitalize its second-largest bank by Friday. For weeks, it has been trying to juggle its options between a bailout from Europe's EFSF fund or a bilateral loan from either Russia or China.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news Viva sees growing demand for cloud services  In recent years, medical institutions are starting to make use of Viva’s cloud servicesTurkey replacing term "Central Asia" with "Turkestan" in textbooks The Turkish Ministry of Education is replacing the term "Central Asia" with "Turkestan" in textbooks.Armenian, German presidents meet in Berlin Armenian and German Presidents Vahagn Khachaturyan and Frank-Walter Steinmeier met in Berlin.Armenia assumes presidency of Mediterranean Network of Regulatory Authorities The Commission on Television and Radio of Armenia said it expects productive cooperation in various formats. |
