Heads of Troika mission continue meetings in Cyprus

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The heads of a Troika delegation (European Commission, ECB, IMF) continue on Friday their meetings in Nicosia and discussions on financial sector matters in relation to Cyprus’ bailout agreement.

The heads of the Troika delegation are meeting with the Governor of the Central Bank Panicos Demetriades, who was in Frankfurt for a meeting of the European Central Bank.

On Thursday, they had a meeting with the President of the Republic Nicos Anastasiades. According to statements made by Finance Minister Michalis Sarris, President Anastasiades told the Troika mission that he will not accept a haircut of bank deposits.

Excluded from international capital markets, Cyprus has requested financial assistance from the EU bailout mechanism after its two largest banks sought state aid following massive losses of their Greek bond holdings estimated at €4.5 billion, as a result of the Greek sovereign debt haircut.

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