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Cypriot pension fund nationalisation unacceptable-Merkel quoted

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(Globalpost/GlobalPost)

BERLIN (Reuters) - German Chancellor Angela Merkel told lawmakers on Friday the nationalisation of pension funds in Cyprus would not be an acceptable way of plugging a hole in its finances to qualify for an international bailout, parliamentary sources said.

Merkel was also quoted by two MPs from her centre-right coalition as saying that debt sustainability and the restructuring of its banks must be core elements of any new Cyprus deal, which she called an matter of "credibility".

(Reporting by Gernot Heller; Writing by Stephen Brown)

http://www.globalpost.com/dispatch/news/thomson-reuters/130322/cypriot-pension-fund-nationalisation-unacceptable-merkel-quoted