Cyprus bailout will work, but impact uncertain: EU’s Barroso

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BRUSSELS (Reuters) – Cyprus’s recovery from its bailout and bank restructuring is uncertain and it is too early to say when economic growth will return, European Commission President Jose Manuel Barroso said on Monday.

“I am confident that the program will work, but let’s be honest. At this moment, we cannot say exactly what the impact is going to be,” Barroso told a news conference. “It will depend on the level of implementation and the commitment of Cyprus itself,” he said.

(Reporting by Robin Emmott- editing by Rex Merrifield)

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