Here goes the ground breaking news…
Eurogroup
- Eurogroup committed to stable EMU and stand by Cyprus in reforms
- Negotiations based on Troika analysis
- Wants rapid Cyprus Plan B for discussion ( what the blazes have they been doing all day then?)
- Plan B must respect previous parameters
- Reaffirms previous EU guarantee for deposits of under 100k
- Majority still insist on dep levy
Cyprus
- Govt to tell Eurogroup it’s against deposit levy
- If deposit levy, must be a small one
- Floats internal borrowing plan to Eurogroup
- Russia rejected all govt proposals and only discussing current loan extension (when your over a barrel you don’t get much choice)