Tag: Michalis Sarris

• Wednesday, March 20th 2013 - 08:00 UTC

  Germany warns Cyprus ‘banks might never reopen’ if terms of bailout are rejected

  

  Germany's finance minister has warned Cyprus that its crisis-stricken banks may never be able to reopen if it rejects the terms of a bailout. Wolfgang Schaeuble said major Cypriot banks were “insolvent if there are no emergency funds”.