Cyprus and Europe are waiting. The financial vacuum is being filled with fear and anger.
Will it be financial meltdown and a euro exit or will there be an agreed plan to raise 5.8 billion euros, which will unlock a 10 billion euro bailout for the Mediterranean island?
Cyprus’ leaders are debating with the troika. Options are receding and speculation on the street is mounting.
The ruling party claims it is just hours away from a deal. Still the clock is ticking to the March 25 deadline set by the European Central Bank.
It is understood that the Cypriot government is now discussing a 10 percent levy on deposits over 100,000 euros.
Earlier, Moscow rebuffed requests from Nicosia for assistance to save Cypriot banks in which Russians have billions at risk.
One eurozone minister, Finland’s Alexander Stubb, remained confident. He said an EU accord would be reached.
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