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Cyprus time extended to next week will be a bank holiday on Wednesday, and consider to nationalise pension funds, in order to avoid a financial collapse. Cyprus before rejecting the European Union bailout terms, and to Russia for help.
Crisis negotiations continued into the night, the ruling Democratic party United States today (Rally) warned that the situation is urgently needed.
"We are running out of time, only a few hours of time to save our country," the party's deputy leader Averos Neophytou told reporters.
Bank has been closed since the weekend, a government official told Reuters the bank will continue to close this week, after the holiday weekend and will reopen until next Tuesday.
Cypriot finance minister Michael Sarris has arrived in Moscow, Russia's ministry of finance said that Cyprus is seeking 5 billion euros of aid,oakley sunglasses sale, before has asked Russia to extend a loan of 2,replica oakleys.5 billion euro and reduce the interest rate for five years. Russia has special interest in Cyprus, for many Russian citizens put deposit in Cyprus.
Cyprus parliament voted on Tuesday to obtain necessary for the eu 10 billion euros aid bank tax proposal,replica oakley sunglasses, resolutely resist in the past three years by crisis of Greece, Portugal, Ireland, Spain and Italy of the austerity measures.
Demand in the euro area shows its tensions with Russia on the Cyprus problem. Russian prime minister dmitry medvedev said that the practice of the European Union is like a "bull in a China shop", and compared the eu proposals to the Soviet period,fake oakley sunglasses, the practice of private property will be confiscated. The eu's proposal would force Russia customer contributions to Cyprus to rescue Banks.
But the European central bank remain stress, and warned that if unable to rapid aid agreement, aid will have to stop to Cyprus.