HOUSEHOLDS in Cyprus, which secured a European Union-led bailout last month, are the second richest in the euro area, European Central Bank data show.

The median net wealth of Cypriot households was 266,900 euros (US$348,598) in 2010, according to the Eurosystem Household Finance and Consumption Survey published yesterday. Only Luxemburg's households were more affluent, with median net wealth of 397,800 euros. Households in Germany, which is providing the lion's share to bailouts of distressed nations, had a median net wealth of 51,400 euros.

A fumbled attempt to rescue Cyprus last month roiled financial markets and sparked concern that it might exit the eurozone. The island nation secured a 10 billion-euro bailout on March 25 after bowing to demands from creditors to shrink its banking system and tax depositors.