Cyprus Locked in Tough Talks (Update1)
The restructuring of Laiki and the sale of the toxic-asset laden Greek branches of Cypriot banks is expected to cut the amount the country needs to raise to about 3 billion euros instead of 5.8 billion euros, officials have said. Bank of Cyprus, which was also exposed to Greek debt, might also be involved in the restructuring.
Elena Becatoros in Nicosia contributed to this report.
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