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Mon Jan 28, 2013, 05:56 AM

Russia's Medvedev: help for Cyprus only if conditions met - paper

Source: Reuters

(Reuters) - Russia could provide support to Cyprus but the island state itself and the European Union must take the biggest share of a bailout, Russian Prime Minister Dmitry Medvedev said in a German media interview published on Monday.

The Mediterranean island, waiting for a multi-billion euro bailout after heavy exposure to debt-crippled Greece, has had to contend with misgivings from lender states on how committed it is to fighting money laundering and why the island is a magnet for Russian money.

Cyprus offers the euro zone's lowest nominal corporate tax rate and has had close political ties with Russia for decades.

"We think the main burden to solve these problems should be taken on by Cyprus and the EU states," Medvedev told the German business daily Handelsblatt in an interview held on the sidelines of the World Economic Forum in Davos.


Read more: http://uk.reuters.com/article/2013/01/28/uk-eurozone-cyprus-russia-idUKBRE90R08120130128

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