Wednesday, April 17, 2013

Cyprus to Sell Part of Gold Reserves ,,, right after US manipulates Gold Market, hmmmmmmmm

TEHRAN (FNA)- Cyprus said it will sell part of its gold reserves in the next few months, but the move will require approval from the country's Central Bank.

This came in a statement on Wednesday by the Cypriot Finance Minister Charis Georgiades, in an interview with Bloomberg Television.

The government of Cyprus seeks to ensure access to the 10 billion-euro rescue loan package that's been allocated to the insular state by the Eurozone countries and the International Monetary Fund (IMF).

To attain the objective, Nicosia will have to raise 11 billion euros through a one-off levy on deposits exceeding 100,000 euros in the country's two major banks, and also through selling part of its assets and gold reserves.

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