German Finance Minister Wolfgang Schaeuble has warned that failure to help Cyprus could send shockwaves across the eurozone, dpa reported.
Opening the parliamentary debate on Cyprus' 10-billion-euro
(13.1-billion-dollar) aid package, Schaeuble said: "If we do not help Cyprus, then the nation would inevitably face bankruptcy."
This, he said, would raise the risk of contagion spreading to other nations at the centre of the eurozone debt crisis.
"The support for Cyprus is necessary to ensure the stability and effectiveness of the entire euro zone," Schaeuble told lawmakers.