NICOSIA -- Meetings are underway at the Central Bank to prepare for the 'day after' in the banking sector for Tuesday when banks are expected to re-open after an enforced week-long bank holiday to prevent a bank run, the Cyprus News Agency reported on Saturday.
It said that 'all the scenaria' are under consideration. Taking part in the meetings are officials of the European Central Bank, Troika officials and officials from the commercial banks. It said that one of the scenaria being considered is for the "good" Popular Bank -- that is deposits of up to 100,00 euros and performing loans to be absorbed by the Bank of Cyprus.
Other media have reported that British experts have travelled to Cyprus to offer advice on the restructuring of the banking sector following yesterday's approval of a raft of bills by the House of Representatives.