Cyprus seeks to avoid tough terms of European aid
Menelaos Hadjicostis - Associated Press
Cyprus President Dimitris Christofias, left, and European Commission President Jose Manuel Barroso seen at the Presidential Palace, in Nicosia, Cyprus, Friday, July 6, 2012. Cyprus took over the six-month, rotating EU Presidency from Denmark on July 1st, 2012.
Cyprus last week became the fifth country to ask for a bailout from its eurozone partners, just days before taking over the European Union's six-month rotating presidency.
The country expects to wrap up negotiations on the size and terms of the bailout with the so-called troika — the body made up of officials from the European Commission, the European Central Bank and the International Monetary Fund — by the end of the month. But it doesn't want to be forced to take new, harsh austerity measures in exchange for the money.
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