Cyprus will reportedly sell €400M of "excess" gold reserves according to a draft assessment of the country's financing needs reviewed by Reuters. Between now and 2016, the country needs €23B. Cyprus' contribution (around €13B) will be derived from a combination of higher taxes, the Laiki bank wind down, the equity "swap" (sarcasm) with depositors, and the aforementioned sale of the country's gold holdings.
Cyprus will reportedly sell €400M of "excess" gold reserves according to a draft assessment of...
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