Cyprus To Sell Gold Reserves To Help Finance Bailout

By  |  April 11, 2013
 | 

Cyprus has resorted to selling gold reserves in an effort to help finance their share of the bailout plan, reports The Telegraph. The gold reserves are expected to raise roughly €400 million to go towards the bailout. Cyprus originally made an agreement to raise €7 billion to compensate for the losses, but the EU and International Monetary Fund have reassessed this number to €10 billion.

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