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Cyprus bail-out – live

 
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.

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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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