EU: Cyprus has to change the way its managing the islands debt levels

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Speaking after a meeting at the Presidential Palace, Governor of the Central Bank of Cyprus announced that they are looking at making fundamental changes to the way the islands non-performing loans are handled and managed.

In a statement, the Central Bank said this referred to the targets that had been set for banks in 2015 by the Troika of international lenders that bailed out Cyprus after the 2013 recession.