Cyprus rules out exit from eurozone

Cyprus yesterday ruled out any question of abandoning the eurozone, hours after the principal backer of its government floated the option if bailout conditions were too tough.

Cyprus, a eurozone member since 2008, was forced to seek aid from its EU partners and the IMF in June to support its two main banks battered by exposure to Greece.

“For the government and the president of the republic there is absolutely no issue of exiting either the eurozone or the EU,” government spokesman Stefanos Stefanou said.