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Cyprus Ruling Party Says Close to a Solution on Bailout Crisis within EU Rules

A solution to Cyprus's bailout crisis within the framework set down by the European Union may be possible within "the next few hours", the deputy leader of the island's ruling Democratic Rally party said on Friday.

NICOSIA, March 22 A solution to Cyprus's bailout crisis within the framework set down by the European Union may be possible within "the next few hours", the deputy leader of the island's ruling Democratic Rally party said on Friday.

"There is cautious optimism that in the next few hours we may be able to reach an agreed platform so parliament can approve these specific measures which will be consistent with the approach, the framework and the targets agreed at the last Eurogroup," Averof Neophytou told reporters.

Copyright 2010 by Reuters. All rights reserved.

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