The EU has moved closer to a €17.5 billion bailout for Cyprus after the Mediterranean island on Monday (4 March) agreed to audit its banks to assess implementation of anti-money-laundering rules.
Following the meeting of eurozone finance ministers, Eurogroup President Jeroen Djisselbloem said it is his "understanding" that a private company will undertake the investigation.
But for their part, Cypriot officials have indicated it will be carried out by Moneyval, an intergovernment...
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