"Our analysis indicates that the debt, despite being at such high levels, is manageable and under the conditions which we describe can be viable," he told reporters.Moody's said that although there's strong political will among Cyprus' partners in the 17-member group that uses the euro not to repeat the kind of writedown that was allowed for Greece to get its own spiraling debt under control, the sheer size of Cyprus' debt burden will compel the country's authorities to consider such a move.
Moody's Downgrades Cyprus Deeper Into Junk
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