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    Rehn accuses Cyprus of ignoring warnings over its finances

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    euronews (in English)

    by euronews (in English)

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    Cyprus has been accused ignoring early warnings over its beleaguered finances.

    The charge was made by Ollie Rehn at an extraordinary meeting of the European Committee on Economic and Monetary Affairs.

    The EU's Economic and Monetary Affairs Commissioner says the island was warned about its "excessive financial imbalances" and told that a bailout package was "unavoidable".

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    http://www.euronews.net/