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Cyprus may seek a bailout

Eurozone member Cyprus has strongly hinted it may have to apply for an international bailout before the end of June.

Finance Minister Vassos Shiarly said: "The issue is urgent. We know the recapitalisation of the (island's) banks must be completed by June 30, and there are a few days left".

Cyprus is under growing pressure to apply for aid to salvage its second-largest lender Cyprus Popular Bank, bowed by its exposure to debt-crippled Greece.