NICOSIA Finance Minister Michalis Sarris said on Saturday that significant progress has been made with representatives of the Troika at talks to reach agreement for a bailout in Nicosia. But he said that some issues have been referred to working groups and that the talks would resume in the afternoon.
Sarris was said that the talks included a levy of 25% on uninsured depositors of the Bank of Cyprus. He said that once something had been agreed it would be referred to the House of Representatives for a vote.
President Anastasiades has asked political party leaders to accompany him to Brussels where the eurogroup is expected to discuss Cyprus’ bailout agreement on Sunday.
But he is awaiting an outcome from talks underway with the Troika in Nicosia. Informed sources told the Cyprus News Agency earlier on Saturday that one of the sticking points is whether a levy will be imposed on Bank of Cyprus depositors or whether that bank also, the island’s largest, would need to undergo restructuring. On FRiday, parliament approved a law to restructure the banking sector, with the Popula Bank expected to be split into a good and bad bank.
Meanwhile, the bank employees union Etyk has called on all its members to gather in Nicosia this afternoon when it will decide whether to demonstrate outside the House of Representatives or the Presidential Palace.