The new leader of the Greek Cypriot administration Nikos Anastasiadis had his alternative "economic recovery" plan rejected on Wednesday by Troika (EU, IMF and European Central Bank) on Wednesday.
As part of the efforts to overcome the economic crisis in southern Cyprus, the "Bailout Plan," aiming taxes on deposits, had been rejected by the Greek Cypriot assembly to meet the deficit of 5.8 billion euros.
After Troika's meeting with Anastasiadis, the Greek Cypriot and the Greek press announced the inconclusive negotiations at the Parliament.
The Greek Cypriot cabinet decided to assemble urgently in the evening to discuss the recent developments after Troika meeting.
Having a talk with Anastasiadis on the line, Russian President Vladimir Putin invited the Greek Cypriot leader to the Russian capital Moscow to discuss the economic crisis.
As a further development, the Greek Cypriot People's Bank, Laiki Trapeza, is claimed to be sold to Russian investors.
On the other hand, the banks in southern Cyprus, as a precaution against the concerns of people's storm to the banks, will be shut on Thursday, too.