ECB to stop accepting Cypriot bonds if insolvency laws not passed

By Stelios Orphanides

The European Central Bank is on the verge to stop accepting Cypriot government bonds as collateral for monetary operations if Cyprus fails to pass the insolvency legislative framework, state radio CyBC reported citing a briefing of the finance ministry’s undersecretary Christos Patsalides to House speaker Yiannakis Omirou.