Cyprus does not need a bailout for the moment, new Finance Minister Kikis Kazamias said on Friday, calling on all sides to avoid one in the future, according to Reuters. Asked if Cyprus needed a suppport mechanism, Kazamias told reporters: "There is no such issue at the moment." Asked whether it would need one in a few months, he said: "We should avoid it." The new cabinet was announced on Friday, with Kazamias appointed to head the island's fight to ward off bankruptcy. "We have every reason to be optimistic from the moment everyone assumes their share of responsibility," Kazamias said. The government is in talks with unions over austerity measures.
