While negotiating on several fronts - with the European Union and with Russia - Cyprus is reportedly evaluating a plan B, to be launched in the event that no financing agreement can be found. This was announced by the state broadcaster Cybc, which specifies how the Cypriot central bank is thinking to set up a bridge bank, which could contain the outflow of deposits when institutions reopen, e a "bad bank" to collect toxic credits.
Meanwhile, the country's banks should also remain closed tomorrow, while from Brussels the EU commission announces that the ball has now passed to Cyprus, and that it is up to the island to present an alternative plan to the rejected one, without prejudice to the stakes on previously established financing and debt.
