The Cypriot finance minister has flown to Moscow to plead for aid, in defiance of calls from Angela Merkel to refrain from entering negotiations with Russia.
09.52 President Nicos Anastasiades and other party leaders have agreed to send a technical team to the central bank to work on ‘Plan B’ following an emergency meeting this morning. According to Greek news website ekathimerini, options include releasing €5bn held in reserve by Cyprus’ social security funds, a voluntary swap involving bank deposits, and bonds indexed to the island’s natural gas revenues. They have the full story here.
Read the complete article at The Telegrapgh here.
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