Cyprus expecting Russia to give loan without conditions

Cyprus, the fourth country to apply to the EU for a bailout, expects Russia will agree to give them a loan without conditions, according to Cypriot president Demetris Christofias.

It is a potentially embarrassing issue for the EU since Cyprus took over the EU presidency with an official ceremony in Nicosia attended by the heads of the all institutions.

The island, which has strong links with Russia and a substantial Russian population, borrowed €2.5bn from Moscow last year to tide it over the year.