Crisis: Cyprus; troika asks for deeper cuts

19 November, 12:24

(ANSAmed) - NICOSIA, NOVEMBER 19 - Bailout talks between the troika and Cypriot officials continued yesterday amid reports that the lenders are asking for deeper cuts, as Cyprus Mail reports today. Finance Minister Vassos Shiarly and Central Bank Governor Panicos Demetriades met with the heads of the troika team in Cyprus to discuss issues that concern the island's banks. The meeting took place amid reports by state broadcaster CyBC that lenders have demanded deeper spending cuts worth 1.2 billion euros instead of 975 million euros sought initially. The troika delegation, in Cyprus since last Friday, was scheduled to leave the island on Sunday, but has now extended its stay to at least Wednesday due to divergences between the two sides on major issues, state television said. House President Yiannakis Omirou said esterday the troika's demand would lead the country's economy back to 'Dark Ages' and will abolish the sovereignty of the Cypriot state. (ANSAmed).

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