| Lenders reject latest Cyprus bailout plan |
|
European officials on Friday started a fresh round of talks with the
Cyprus government after rejecting its plans for an alternative package
to save its banking sector and remain in the euro. “There was some
discussion of going back to the original plan of a bank levy, but there
are objections from the central bank,” said one person with knowledge of
the talks. The dismissal of the plan comes as time is running out for
the island nation to agree on a plan to raise €5.8bn and avert financial
collapse before the European Central Bank suspends funding on Monday. There were already long lines at cash machines in Nicosia on Friday and one Cypriot official summed up the sense of desperation saying: “We are waiting for a messiah to come and save us, and of course, there is none”. More to follow . . . http://link.ft.com/r/UXDMSS/ |
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Friday, March 22, 2013
Lenders reject latest Cyprus bailout plan
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