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Leaders attend a flurry of meetings to sort out Cyprus crisis

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Leaders attend a flurry of meetings to sort out Cyprus crisis


Every option is being considered as political and financial leaders in Cyprus rush from meeting to meeting to solve the bailout crisis.

President Nicos Anastasiades is hoping to produce a plan B after the island’s parliament rejected terms for EU-backed aid, raising fears of a default and a bank crash.

Party leaders are looking at possibilities ranging from tapping Moscow for money to nationalising pension funds – all in a bid to raise the six billion euro prerequisite for a 10 billion euro bailout.

With time running out even the Archbishop of Cyprus, Chrysostomos ll is checking out the Church’s sellable assets.

“The entire wealth of the church is at the disposal of the country , to support the people of Cyprus, so that the banking system does not collapse, and so that we can stand on our own feet and not on the feet of foreigners.”

Fearing a rush on the island’s banks, the government is considering whether to allow them to reopen on Thursday but with capital restrictions. A crisis extended public holiday has kept them closed so far.

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