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Co-op’s Clerides says Cyprus could create bad bank to help borrowers

Marios Clerides

By Stelios Orphanides

Cooperative Central Bank general manager Marios Clerides said the state could buy non-performing loans from Cypriot banks to help smaller borrowers by establishing a bad bank.

“For us it is convenient because we have a lot of loans of this type,” Clerides said in an interview to state-radio CyBC today. “The problem is whether there are sufficient funds to support this effort”.

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