Olli Rehn
Media playback is unsupported on your device
Video

EU 'working hard' to help Cyprus

Cyprus has made "significant progress" in talks with the EU and IMF aimed at securing a bailout, Cypriot Finance Minister Michael Sarris has said.

Cyprus has to raise 5.8bn euros (£4.9bn; $7.5bn) before Monday to secure a 10bn-euro loan.

The EU Commissioner for Economic and Monetary Affairs, Olli Rehn, said intensive work and contacts would continue in the coming hours.

  • 23 Mar 2013
  • From the section Europe
Go to next video: Crunch talks between EU and Cyprus