By Valentina Pop

The German Social-Democrats say one report on anti-money-laundering measures in Cyprus will not be enough to convince them to approve a bailout for the troubled island.

"As long as there is an economic model in Cyprus based on black money, Serbian mafia income and tax dumping, I cannot imagine that we will allow German taxpayers' money to be used for the preservation of this model," German Social Democrat leader Sigmar Gabriel said on Monday (11 March) in Berlin during a press conference.