A picture shows a store with promotional sales next to a branch of the Bank of Cyprus, in the capital Nicosia. AFP PHOTO/PATRICK BAZ
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Cyprus could benefit from strong bank stress test results and positive economic signs to pull off an Irish-style bailout exit and make a full return to the bond market, Finance Minister Harris Georgiades said.A year and a half after becoming the fifth and last euro-area nation to enter an international bailout and after a forced loss on bank bondholders and deposits of more than 100,000 euros ($126,000), Cyprus is seeking to bolster market confidence after risks of an early Greek bailout exit triggered a sell-off in bonds and stocks earlier this month. While the country's euro area and International Monetary Fund creditors have said a successful privatization program and changes in legislation on foreclosures are crucial, a political dispute in Cyprus over foreclosures has delayed a review of the loan program, postponing disbursement of a 436 million-euro tranche.The country tapped markets for the first time after its bailout in June, raising 750 million euros in a sale of five-year notes.
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