Cyprus seeks rescue support; ECB to hold emergency aid in place until Monday

Cyprus’s president is meeting party leaders to secure their support for a revised plan to raise €5.8bn that international creditors have demanded in exchange for a larger rescue package that would prevent the country’s bankruptcy.

Nicos Anastasiades and the Cypriot authorities are rushing to come up with a new plan after politicians soundly defeated an earlier proposal to seize up to 10% of all domestic deposits to finance the rescue.