Category: Economy / January 9, 2013 11:58 AM EST
German Chancellor Angela Merkel said on Wednesday (January 9) there could be no special bailout conditions for Cyprus that did not include the need for economic reforms such as privatizations, which have been ruled out by the island's outgoing communist president.
"We agree it is important that the troika should talk with Cyprus and that there can be no special conditions for Cyprus because we have common rules in Europe," Merkel told a news conference. "We are far from the end of the talks."
She was speaking after talks with visiting Maltese Prime Minister Lawrence Gonzi, who said that "privatizations were one of the key elements that allowed Malta to move forward" and make its economy more competitive.