Cypriot leaders are in Brussels for last ditch talks to avert the country’s financial collapse.
It comes after its parliament voted to restructure the island’s banks, into so-called “good and bad” lenders and set up a “national solidarity fund”.
Moves to impose a big levy on bank depositors are yet to be approved. But a dramatic u-turn is expected to avert the threat of financial meltdown as Cyprus faces a Monday deadline to clinch a 10 billion euro bailout or have its emergency funding cut off.
The turnaround came after Russia rebuffed Cypriot entreaties to help its banks, where Russian citizens and other foreigners have billions of euros at stake.
A government official, who declined to be named, said
Cypriot officials were to hold talks with representatives from
the so-called ‘troika’ of lenders – the EU, ECB and
International Monetary Fund – on Saturday morning.
Cypriots have been enraged by plans to hit small holdings of ordinary savers as well as large depositors. Parliament will hold a crucial sitting to decide the matter after EU finance minister meet on Sunday.
- 1‘Human error responsible’ for deadly Bad Aibling train crash – sources
- 2Two commuter trains collide head-on in Germany
- 3Leopard enters Indian school, mauls six people
- 4Refugees in Hungary offered classes to speed integration
- 5New migrant tragedy claims 27 lives as Greece grapples with refugee crisis
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2International news | euronews, latest international news
- 3Madrid to appeal Catalan road to independence from Spain
- 4Hope vs harsh reality: challenges to global education goals in the 21st century
- 5Partnering to grow Europe
- 6Extras : euronews : the latest international news as video on demand
- 7Turkey: Explosion hits Istanbul’s main tourist district
- 8Thousands in Bucharest blame corruption for Friday’s nightclub blaze
- 9Jorge Lorenzo clinches his third MotoGP title in Valencia
- 10Macedonian Postcards: The Mavrovo National Park
- 11Moldova: protesters storm Parliament
- 12Paris: “I would rather see my brother in prison than in a cemetery”
- 13Special Reports : euronews : the latest international news as video on demand
- 14Benzema questioned in French sex tape case
- 15Merroussis clinches the 33rd Athens Authentic Marathon
- 16latest Learning World - All Programmes | euronews : the latest international news as video on demand
- 17Norway sends Syrian refugees back to Russia
- 18Brussels remains on high alert: ‘multiple operations underway’ across Belgium
- 19Business news and finance news | euronews: international economic and finance news
- 20International breaking news | euronews online world breaking news in video
Wires > News
- 22:16 CET Consternation at Austrian case of Nazi camp survivors called ‘a…
- 22:01 CET U.N. Security Council members push Russia to stop Aleppo bombing
- 21:58 CET U.S. says political crisis building in Democratic Republic of Congo
- 21:48 CET Republicans Christie, Fiorina dropping White House bids
- 21:23 CET Congo opposition calls for general strike to make Kabila stand down
- 20:24 CET Damascus expects tough but short battle for Aleppo
- 20:12 CET Argentine football team Huracan’s bus overturns in Venezuela…
- 20:05 CET Poland to join fight vs Islamic State in return for NATO help in…