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Cyprus president demands bailout decision on Thursday

Earlier today the European Commission said it is up to the Cypriot government now to present an alternative scenario for the bailout.

Cypriot President Nicos Anastasiades.
Cypriot President Nicos Anastasiades.
Image: Geert Vanden Wijngaert/AP

CYPRUS PRESIDENT NICOS Anastasiades has demanded that a decision on a bailout deal for the near-bankrupt eurozone member must be made on Thursday, the official CNA news agency reported.

“A decision on a Cyprus rescue must be made on Thursday at the latest,” CNA quoted Anastasiades as saying as he left the presidential palace in Nicosia tonight.

Anastasiades had chaired a meeting of his cabinet today, and state television reported he was to present party leaders with a Plan B aimed at securing an EU-IMF bailout for the Mediterranean island.

Earlier today the country’s interior minsiter admitted that its two main banks may never re-open after the troika rejected a ‘plan B’ put forward by the government.

The European Commission said later that it is now for the Cypriot authorities to present an alternative scenario that will not be vetoed by its national parliament.

- © AFP 2013

Additional reporting by Michelle Hennessy.

Related: Brussels: ‘It’s up to Cyprus to come up with a revised bailout deal’>
Read: Cyprus minister: Troika rejects our Plan B, and banks might never re-open>

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