THE GERMAN PARLIAMENT HAS REQUIRED THE RESTRUCTURE OF THE BANK SECTOR AND FINANCE SYSTEM IN CYPRUS IN ITS FIRST DEBATE ON CYPRUS FINANCE CRISIS.

GERMAN PARLIAMENT HAS REQUIRED THE RESTRUCTURE OF THE BANK SECTOR AND THE FINANCE SYSTEM IN CYPRUS IN ITS FIRST DEBATE ON CYRUS FINANCE CRISIS.

       The German Parliament also known as the Bundestag has begun its extended debates for the solution of the finance crisis being sought in Cyprus and elsewhere after the Russian President Medvetvef postponed Russia's effort toward the solution of the finance crisis in Cyprus. However, the finance advisors in the German Parliament have required the restructure of the bank sector and the finance system in Cyprus, besides the limit set in the allocated European Union Finance Rescue Packages worth the sum of six billion euros, instead of the previously suggested sums of ten to thirty billion euros for Cyprus. Reasons for the European Union Finance Rescue Package allocation to a none member has been attributed to the location of Cyprus within the Eurozone with its financial, markets performance and economic growth effect on the neighboring European Union member nations such as Greece, Italy, France and Germany.

                                  Written by Professor Godfrey Ohia.