Cyprus banks to remain closed another 2 days
By MENELAOS HADJICOSTIS and ELENA BECATOROSBy MENELAOS HADJICOSTIS and ELENA BECATOROS, Associated Press?
?During a crucial top level meeting of Cypriot leaders including from left to right, Cyprus President Nicos Anastasiades, ruling DISY party deputy leader Averof Neophytou, DIKO party boss Marios Garoyian, EVROKO party leader Demetris Syllouris, Cyprus Central Bank Governor Panicos Demetriades, and Central Bank Deputy Governor Spyros Stavrinakis, during a crucial meeting to find an alternative plan to raise 5.8 billion euros to finance a bailout at the Presidential palace in Nicosia Wednesday, March 20, 2013. Cypriot lawmakers have rejected a critical draft bill that would have seized part of people's bank deposits in order to qualify for a vital international bailout. (AP Photo/Petros Giannakouris)
During a crucial top level meeting of Cypriot leaders including from left to right, Cyprus President Nicos Anastasiades, ruling DISY party deputy leader Averof Neophytou, DIKO party boss Marios Garoyian, EVROKO party leader Demetris Syllouris, Cyprus Central Bank Governor Panicos Demetriades, and Central Bank Deputy Governor Spyros Stavrinakis, during a crucial meeting to find an alternative plan to raise 5.8 billion euros to finance a bailout at the Presidential palace in Nicosia Wednesday, March 20, 2013. Cypriot lawmakers have rejected a critical draft bill that would have seized part of people's bank deposits in order to qualify for a vital international bailout. (AP Photo/Petros Giannakouris)
Cypriot Archbishop Chrysostomos II speaks to the media outside Presidential Palace after his meeting with Cypriot president Nicos Anastasiades, in Nicosia, Wednesday, March 20, 2013. Following the talks with President Anastasiades, the head of Cyprus' influential Orthodox church Archbishop Chrysostomos II said on Wednesday that he will put the church's assets at the country's disposal to help pull it out of a financial crisis. Cypriot lawmakers have rejected a critical draft bill that would have seized part of people's bank deposits in order to qualify for a vital international bailout. (AP Photo/Petros Giannakouris)
Delia Velculescu, head of Troika (IMF), leaves the presidential palace after meeting with Cyprus' President Nicos Anastasiades, not pictured, in the capital Nicosia, Wednesday, March 20, 2013. Cypriot lawmakers on Tuesday rejected a critical draft bill that would have seized part of people's bank deposits in order to qualify for a vital international bailout, with not a single vote in favor. (AP Photo/Petros Karadjias)
NICOSIA, Cyprus (AP) ? Cyprus' banks will remain closed Thursday and Friday as officials try to find a new plan to stave off bankruptcy.
Aliki Stylianou, the central bank's spokeswoman, confirmed the additional two-day closure on Wednesday. The cash-strapped lenders have been closed since Saturday to avoid a bank run.
The Parliament this week rejected a plan to take a portion of bank deposits. That has left Cypriot officials looking for alternative ways to scrounge up some 5.8 billion euros ($7.51 billion) that the country's euro area partners and the IMF expect in order to loan another 10 billion euros.
The money is needed to shore up the ailing banks and government finances. Cypriot authorities kept banks closed in order to avoid a run on the lenders.
Associated PressPeople, Places and Companies: Cyprus
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