Cyprus expects to clinch support programme by Monday

Cyprus expects to clinch a financial support package by Monday, Central Bank governor Panicos Demetriades said, meeting a deadline after which the European Central Bank has threatened to cut off funding for the island's crippled banks.

"I expect a programme of support for Cyprus by Monday," he told reporters as President Nicos Anastasiades and party leaders tried to hammer out a deal to raise 5.8 billion euros in exchange for a 10 billion euro ($12.95 billion) bailout from the European Union.