BRUSSELS – European finance ministers are gathering to discuss a long-delayed bailout for Cyprus amid demands from creditor nations that the island nation commit to privatizations and greater transparency in its financial sector.
France's Pierre Moscovici said ahead of the meeting of the 17-nation eurozone's finance ministers Monday the talks will specifically include the issue of anti-money-laundering policies and their implementation.
Germany and others have raised concerns that Cyprus' banks facilitate money-laundering and tax evasion, asking that any bailout must come with tough oversight.
Cyprus, which rejects the allegations, is seeking a bailout of up to €17 billion ($22 billion) — equivalent to its annual economic output — to rescue its banks and keep the government afloat.
Ministers weren't expected to make a final decision on Cyprus at their meeting.