Friday, March 22, 2013 11:37 pm
Cyprus crisis delays Japan-EU free trade talks
The Associated Press
The Japanese Foreign Ministry and EU side said in statements issued Saturday that the summit, scheduled for Monday, was put off because the European leaders, President of the European Council Herman Van Rompuy and European Commission President Jose Manuel Barroso, needed to remain in Brussels to work on finding a solution to the financial crisis in Cyprus.
Japan and the EU had been expected to announce the launch of negotiations on a bilateral free trade agreement.
Cyprus is struggling to raise 5.8 billion euros ($7.5 billion) and meet conditions to secure an international bailout to avert a financial collapse within days.