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Sunday, March 24, 2013

Cypriot crisis heading for endgame.

Cypriot Finance Minister Michael Sarris has left talks with Russia about a possible rescue empty handed, with the latter saying they're not interested in Cyprus's offshore gas reserves. However, Prime Minister Dmitry Medvedev has apparently said the door to a deal is not closed. Meanwhile, the EU has objected to a proposal to take over pension funds as part of a Troika bailout. The situation is fast-changing, but the ECB's Monday deadline remained the same at the time of writing.

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