Cyprus Finance Minister: Russia Dumped Us, Things Get Serious

World | March 22, 2013, Friday // 13:31
Bulgaria: Cyprus Finance Minister: Russia Dumped Us, Things Get Serious "I think we aren't able to get the support that we wanted to get," Cypriot Finance Minister Michael Sarris said in an interview for Bloomberg agency after checking out of the Lotte Hotel in Moscow. Photo by Getty Images

Cyprus finance minister has admitted the situation is getting tougher after Russia spurned its offers of assets for a financial rescue package.

"I think we aren't able to get the support that we wanted to get," Cypriot Finance Minister Michael Sarris said in an interview for Bloomberg agency after checking out of the Lotte Hotel in Moscow.

"But we must go back home because things are getting serious."

Later in the day Prime Minister Dmitry Medvedev assured that the door remains open.

"We didn't close the door, didn't say we won't discuss anything," Prime Minister Dmitry Medvedev said at a briefing in the Russian capital with Jose Barroso, head of the European Commission.

While "we are prepared to discuss various options for supporting" Cyprus, Russia's possible assistance is contingent on a consensus over a rescue plan between the nation and the EU, he said.

A solution to the crisis "can be found" and it must be acceptable to all members of the currency union, Barroso said. "I believe there is no time to lose," he said.

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Tags: Cyprus, bailout package, bank levy, European Union, euro, Germany, finance minister, Wolfgang Schaeuble, Russia, loan
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