The Cypriot government is working to secure funding for the country’s banks – after a levy on savings was rejected yesterday.
The controversial measure was among the conditions attached to a 10 billion euro EU IMF bailout deal for Cyprus.
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The Cypriot President held emergency talks with political party leaders in Nicosia this morning – to discuss a Plan B.
Cyprus is seeking help from Moscow – as Russian nationals hold billions of euro in deposits in the country’s banks.
However no funding agreement has yet been reached after two rounds of talks.
