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The Finance Ministry in Cyprus is awaiting word from the European Commission if a draft law providing for the Cyprus loan guarantee scheme is in line with the Commission’s policies.The draft law forwarded to the European Commission’s Directorate General for Competition Policy on Thursday, deals with government guarantees on loans which will be granted to self-employed and businesses, totaling €1 bn.The Cyprus News Agency has learnt that the Ministry has forwarded the draft law and the Minister of Finance decree to …
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