As Cypriot leaders and Troika creditors discuss the latest bailout for Cyprus, much has happened over the weekend. Here is a quick round-up of the headlines from the past couple of days.
- Cypriot leaders claim to be close a deal with creditors, placing a 20 percent levy on deposits greater than 100 thousand euros at the Bank of Cyprus and 4 percent at the other Cypriot banks.
- Eurozone finance ministers are set to meet at 5 pm GMT Sunday, 1 pm eastern time.
- Cypriot President Anastastiades has departed for Brussels to join the talks with finance ministers. Final negotiations will continue there.
- Nationalizing the pension system in Cyprus has been taken off of the table and is no longer a bargaining point for the Troika. This was a key point that Cypriot lawmakers opposed besides the bank levies.
- Monday is the deadline for any deal, as the European Central Bank announced that it would remove any emergency liquidity measures from Cyprus on Monday.
- Cypriot President Holds Bailout Talks in Brussels - BBC
- Eurozone Offers Cyprus the Exit: the Telegraph
- Bankruptcy Talks Set to Go to the Wire - the Independent
- Cyprus Could Become the First Nation to Leave the Eurozone - the Guardian
- Cyprus Leader in Last Ditch Bailout Talks - the Financial Times
Stay tuned to Benzinga for more coverage of the talks in Cyprus as they progress.
BY Matthew Kanterman