PLAYING WITH FIRE: Cyprus submits compromise proposal to Troika

The Cyprus government political negotiating team submitted Tuesday night a compromise proposal to the Troika (IMF, EU, ECB) aimed at breaking the deadlock in the negotiations with its international lenders on the terms of an EU rescue package agreement.

The proposal was submitted by the Finance Minister Vasos Shiarly.
The Cypriot negotiating team comprising Ministers of Finance, Labour and Commerce, as well as Undersecretary to the President and Government Spokesman, met earlier today at the Ministry of Finance to review the new proposals submitted by the Troika and prepare a compromise proposal in a final effort to bridge the differences between the two sides on various issues.

According to a Finance Ministry’s source, the effort, that begun early this morning, aimed at reaching a comprise proposal that can be accepted by Troika.
The same source also said that if Troika shows good will then it will accept the proposal. He noted however that if Troika insists on its positions then things would become ever more difficult.