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Cyprus banks: what really goes on behind closed doors? (Photo: Berge Gazen)

Cyprus bank accuses troika of misleading EU ministers

The Cypriot central bank has said eurozone finance ministers were misled by a critical report on money laundering on the island.

The report in question is a four-page summary of a longer study written by Moneyval, a unit of the Strasbourg-based Council of Europe, and Deloitte, a US accountancy firm.

The summary was drafted on behalf of the "troika" - the European Central Bank, the European Commission and the International Monetary Fund - and circulated to ministers on 14 May.

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