The finance ministers of the 17 euro countries will hold a special meeting to discuss the planned bailout program for Cyprus. Euro group Chairman Jeroen Dijsselbloem on Wednesday called an extraordinary session for Friday in Brussels to discuss the rescue loans for the cash-strapped country. Cyprus needs up to $22 billion to recapitalize its banks and keep its government afloat. Dijsselbloem's spokeswoman, Simone Boitelli, says it is too early to gauge whether the ministers will make a final decision on the bailout at the meeting. She says the "troika" of creditors - the European Commission, the European Central Bank and the International Monetary Fund - will report back on negotiations with the new Cypriot government. Ministers are aiming to finalize the bailout package by the end of the month. Also Wednesday, Cyprus' president said the current round of talks with the troika is showing signs of progress. Nicos Anastasiades urged patience, saying that it will soon become clear that "hard work produces good results," according to a report of the Associated Press.
