Cyprus Crisis Talks End, To Resume Thursday

by
Reuters
Cypriot leaders adjourned crisis economic talks for the night and President Nicos Anastasiades was to meet party leaders on Thursday to discuss a "Plan B" to avoid a financial meltdown after the island rejected the terms of an EU bailout.

Cypriot leaders adjourned crisis economic talks for the night and President Nicos Anastasiades was to meet party leaders on Thursday to discuss a "Plan B" to avoid a financial meltdown after the island rejected the terms of an EU bailout.

The next meeting was set for 9:30 a.m. (0730 GMT).

Talks between Anastasiades and a number of senior political figures ended without any statements to the media.

The government has extended a bank lockdown until next week.

Officials involved in the talks said leaders were considering a plan to nationalise pension funds and issue an emergency bond based on future gas revenues, trying to raise 5.8 billion euros ($7.5 billion) as a condition for securing a 10-billion euro bailout from the European Union.

They also spoke of reviving a rejected plan for a levy on bank deposits, though at a lower level than first proposed.